The quality could be better. The magnet separated from the main body after I took it out of packaging, and the entire thing is covered in a layer of grease, but these are minor drawbacks for something that cost 5 bucks.
Thankfully the magnet actually stays firm on the main body, even though it's detached, because the body is also magnetic, but still, the glue should at least last a bit longer than 0 uses.