I bought it for timpani mallets, for those occasions just two or three pairs are needed. It does the job and it’s easy to transport. It can adapt to a large spectrum of stands, not only mic stands, and the nut is very easy to tighten, so you can be sure it’s not going anywhere.
The tray is padded with a thin layer of EVA foam, which is quite convenient for avoiding noise and the slip of the stuff set on the tray. For my needs this layer is maybe too thin, but I guess it’s easy to add another layer of soft material for an extra quiet use.