It does a very good job as a stand, it doesn't rock around, it is actually very sturdy. It has multiple width adjustment, and the guitar stay up pretty straight, doesn't tilt back a lot, which is great if you want for ex. to put the stand as close to a wall as you need. The guitar headstock will not touch the wall, not even the very tilted back headstock angle of my Les Paul, so that's a nice touch.
The guarding material looks alright, not premium but definitely not cheap, we'll see with time if it indeed protects the nitro finish in the long term, there's no way to tell right now.
But so far, I'm happy with my purchase.