Well, it's s clamp - what can I say? But then I did try third party components on my large, Gibraltar drums rack and I always regretted it, because they slip, or fail, or their screws loosen up.
Gibraltar components are very, very well designed and built. You put it in your rack and you can forget about it for all the years to come.
I have a few of those extension clamps, because as my rack was growing I would extend some pipes with a section of a shorter pipe laying around, something cut off from a longer pipe in the past. It's cheaper and simpler than ordering a new, longer pipe and cutting it to size.
PROS: ultra solid, dependable, great way to extend your pipes as your rack is growing.
CONS: none. It could be cheaper, but didn't I just say what happens when you use cheaper components in a rack?