This is clearly a single purpose product that needs to do its job. It is well made and a quality product. It provides a clever alternative to the traditional life ring.
The collar has the same dimensions as its predecessor, which is roughly the same, and fits into the existing holder, which saves money. Instead of orange, the new collar is yellow and therefore perhaps even more UV-stable. The new collar has a simplified attachment line guide and apparently no cast weight. Should the collar, like its predecessor model, last for around 25 years, I will hardly be able to make a final assessment.