I agree, it's certainly no Wave/Charge. But my wife is picking up 2 of these (backups for the car) as I type this. I figure I can't pass up the $9. I'll probably end up getting a 3rd just for kicks (no pun intended). Plus at this price, they make a decent present for those who may not think about being prepared.

Oh, and I used to use the Gerber line and have since switched once I got a LM New Wave. I found the easy tool accessability, quiet operation, ease of closure (pliers and tools), comfortable grip and quality build to be exceptional. I still have my Gerbers, but as backups, they are no longer EDC.

Couple this with the ETS PSP and a decent pocket shelter like the new stretchy Bivvy/Blanket Doug Ritter mentioned and you have a pretty reasonable cost emergency carry. Worst case, ~$50!