Overall, this is a good product.
It does indeed allow flash productions of small items, it does not rely on any hookup and it is very straightforward. It's real strength, to me, is that it can be used out in the world to casually produce items in everyday situation, whether it is a lighter if someone asks you for a light, a chapstick while you are in any social situation, and so on. So it reinforces your magical nature outside of any performance, in everyday situations, and that is definitely a plus.
The drawback, though, is that it comes with only one gimmick (plus an item that can be produced using the same principle but without the gimmick and which, unfortunately, I don't normally use), and that you cannot just simply switch the gimmick to another item because, in some cases, the gimmick has to be to fixed to the item in a permanent way (the instructions mention that it can easily be unfixed, but not having tried it myself, and without giving anything away, I cannot attest to the veracity of this statement). For instance, as shown in the trailer, you can produce a Sharpie, but the gimmick would be attached to it and you couldn't just hand it over to a spectator for them to sign their card.
So really, in an ideal world, you'd want one such gimmick for each of the items you think you might produce at a moment's notice.
Sure, the product is not that expensive in itself, but if you were to purchase a handful of them to cover your choice of items, it suddenly becomes pricy. I do not know how much this gimmick does cost to manufacture but I would have really appreciated it if the single purchase I made had provided me with, say, 3 or 4 such gimmicks.
Still, overall, the idea is good and if there is one specific small item you regularly use, out in the world, you will get plenty of miles out of that one gimmick.