It's most central, so no matter if you want to surf in Uluwatu, have drinks in Canggu or go spearfishing in Amed, you can reach all of Bali quite easily.
I do get the slightly bad esoteric rep Ubud has, but it also got a very vibrant "getiing shit done" community.
Are your doubt more about location or other issues?
Why did you choose Ubud instead of other places in Bali?