I've got 3 or 4 of these stashed in various kits. You're right that you won't win an orienteering competition with them, but they are a lot better than standard 'button' compasses as they possess a rotating bezel and the clip of course. They're still tiny enough for a psk but very stable and easy to read. I'm a fan. BY the way mine were bought from a diving shop, not a hiking shop. In the UK divers are notoriously tight and the price was about £2 less than in a hiking shop. The diving versions are all black with a 'slightly' luminous face. Hope this helps.
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In the end, all you have left is style...