Okay, after playing with it a bit, I have concluded that it does the job it is intended to do (protect the screen). The fit and finish are good. The outside surface is like a vinyl plastic texture. The inside (against the screen) is a soft felt-like material. Nothing to write home about, though. It is certainly overpriced. It is designed so that it does NOT cover the speakers (so you can listen to podcasts while the screen is protected). That's a good thing.
It does have to be stood up at a rather sharp angle if you are on a slick surface like a lacquered night-stand. Surprisingly, that's mostly due to the underside of the tablet itself (which wants to slide out towards you on slick surfaces when standing). The Bookcover (that's it's official name) has a rather sharp edge that stays put when standing on all but the slickest surfaces. If you place a sheet of paper on the slick surface, that will mitigate the problem and you will then be able to stand the tablet up at more inclined angles. On laminate or wood desks, I had no trouble standing the tablet up. If, however, you require more than simply standing it up to watch a movie/video, the Bookcover is not for you.
I like the low-profile nature of it. I think I'll keep it.