Yeah mate.

You get what you pay for.

I got a similar fret crowning tool. before that I used my own small triangle file with fret protectors. its was okay. a little bit quicker and easier than the triangle file. I could take it or leave it....sometimes i prefer to do things the harder way.

the arch on it is a bit big, so you need to protect the fretboard with something thin, like tape anything thicker and the file will sit too high for the fret.

before you can crown, you need a nothced straight edge to ensure the neck is straight and something to bevel, what are you going to use for that?