Its not really a chromecast competitor. It is a miracast dongle, it is just THEIR miracast dongle.
I have one, and it works well enough. Sure, you can use it similar to a chromecast I guess, but with the chromecast, you initiate the process from your phone or tablet and the app opens up on the device and it takes over the streaming.
With miracast, it works more like what they just added to the chromecast where it mirrors what is on the screen of your device. So if you wanted to watch netflix, wit the chromecast, once you open it up, the stick takes over. With this, your tablet, pc, ect, would still be doing the work, but just throwing it to the tv wireless.
Ill certainly look into it to see how it compares with my current netgear miracast device. A few years of improvement on the hardware so I may get one.