This is a light and handy stereo cable to use as a spare in the bottom of your gig bag. You have to assume that every cable will break some day, no matter how much they cost. So, carrying around a spare is important. However, you don't want to bulk out your gig bag with long bulky cables. So, a short, light weight spare is your best option. This one fits the bill.
There are a couple of reasons why it's not great for gigs: Firstly, at only 5 feet long (1.8m), it's a bit short for stage gigs. Secondly, a right angle jack is better for an instrument and this one has two straight jacks.
I've only had to use it once - and I was very glad to have it. My 6m high quality stereo cable let me down right at the start of a gig. I was able to pull out this spare cable and get going in just a few seconds.