Looks functional, but for $50 I don't expect much in the way of quality. More importantly, I'd suggest posting in *misc* to avoid *push your stool up* ref's.
I can't speak to the build quality but it simply looks like a cheap folding stool with hooks attached for an instrument. If you're on a budget you might consider a stool and a proper stand (or just the stool if you have a stand)...
Google: https://www.google.com/search?q=fold...hrome&ie=UTF-8
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TalkBass: where some of the simplest notions turn into rocket science.
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Looks functional, but for $50 I don't expect much in the way of quality. More importantly, I'd suggest posting in *misc* to avoid *push your stool up* ref's.