I got this basket as a birthday present, and I have been very pleased with it so far. As other reviews have already stated, there are certainly some limitations to this basket. By no means was it designed to be 100% comparable to a real basket, but by all means it can be a great tool for practice if you keep certain limitations in mind.
Pros: Quick and easy to set up/take down, inexpensive, portable, good quality build (at least an initial observation; we'll have to see how it holds up after a while...)
Cons: Soft top and flimsy basket 'rim' can be too forgiving
When it comes down to it, you just have to be realistic with yourself when you're practicing with this basket. As your disc drops in after hitting the bright orange/yellow/blue top head-on, just think of what your putt would do on a real basket... Same goes for catching a good flop off the 'rim.'
My putt is currently a sad little lob that halfway resembles a push putt (but is transforming into something more respectable after just a few practice sessions with this basket), so I cannot speak for routine splash-outs due to speed. I took a few faster putts from close range just for kicks and the chains did stop my disc. The open top doesn't bother me (again, just be realistic). Although the basket is super light, it seems to stay where you put it. I haven't had to use the stakes, but it's a great design to include them.
Overall, it does exactly what it's designed to do. You just have to be realistic with how your putts are responding to the different materials of this basket.