Perfectly functional. Like everything to do with tools it is only worth investing in more expensive/better quality ones if you are going to use them regularly. So if you’re a professional bike shop mechanic or a routine bike builder/tinkerer i’m sure it’ll start to wind you up pretty quick. But if like me you use it once in a while then it is perfectly fine and absolutely no point spending any more for a better stand.
There are two things that annoy me about it – the first is that the knob that adjusts the clamp jaws has a wing nut on the other side, so when you turn the knob the wing nut just spins round, so often you need to hold iwith the other hand which is a bit of a PITA. Also the rubber jaw protectors can slide off if the jaws are in a vertical orientation. I always make sure I butt upto something like the saddle or a frame tube junction to stop it happening, but again a minor PITA if you only use it very occasionally. I’m happy with mine despite its faults, and could not justify anything more expensive of rate amount I use it.