I know of guys who use a similar product and they work well but it's more about where you put it than what you put out. For that price you could build something way cheaper and just as good. I have built several all pvc units that work great and last forever. If interested I could send you some pictures just let me know.
They are not identical to that, but my brother has built a few artificial brush piles using a 5-gallon bucket with holes drilled in the side. He put seem-flexible piping in the holes and filled the bottom of the bucket with concrete so it would sink. He sank them in the pond in his backyard and has had good results catching crappie and bass off them. They sell them at Bass Pro and Cabela's, but I believe his cost him $10-$15 each, versus the $100+ you can buy them for. Here are some pics, plus a shot of one of them on his kayak's fish finder.