Yes its junk...but for $4.00 and free shipping I cant say no. I cant make it for this cheap. It costs the company $5.50 every time I take a dump.
But for plastics these tools work great and will save the palms of my hand from getting hole in it by spinning drill bits in my hand.
Each "Holder" or pin vise holds a collet at each end. The collets are also double ended with different size ends to hold various size drill bits from around .090" and under. PERFECT! The pilot hole is the worst one to drill by hand.
I also have a small jewellers drill coming any day now as well. Simply push down and it spins the drill.