It's the shortest masechet and has only 7 chapters. It start from 25b, which is unusual. Can you make a siyum on it?
R' Ben Zion Abba Shaul writes in his responsa (Or Tzion 12:2) that one may make a siyum on Meseches Tamid, and this siyum is valid in reference to taanis bechorim on Erev Pesach. He also rules so regarding eating meat after Rosh Chodesh Av.
R' Mutzafi rules that it is not enough of a siyum to negate saying tachanun.
Itim Lebinah quotes a dispute between R' Chaim Kanievsky shlit"a and R' Elyashiv zt"l whether it is considered a siyum regarding taanis bechorim - R' Chaim Kanievsky rules that it isn't, whereas R' Elyashiv ruled that it is considered a siyum.
One concern is that it seems to be incomplete -- but it has been for as long as anyone has commented and other massechtot have textual issues also. It's also genuinely difficult to learn in the traditional way, because there are very few perushim and no traditional ones. But the rules for siyumim are not very firm; it's more of a pastoral issue than anything else.