It’s ok. It works well as a stand and also allows you to hang the phone up on a hook or in my case a kitchen cupboard door handle whilst I’m cooking.
The major downsides are that the ring doesn’t open out completely flat which means it feels like it could break off easily and the inside of the ring is a sharp edge (not rounded) which makes it quite uncomfortable to use to hold the phone.

A shame as with a few minor tweaks this could be a perfect product.