This is proving far more useful than I had initially conceived (even after all the research I did on it before purchase). Other review here and elsewhere will talk about its functionality, so let me address some points you may not get elsewhere.
I'm using it on my Mac Mini (running Big Sur) and haven't encountered any incompatiblities or problems. It's been absolutely fantastic for my teaching online as it effortlessly allows me to control not only OBS and my Atem Mini but also PowerPoint (for slides) and VLC (for various media clips) *in the background* while Zoom takes centre-stage - which is absolutely fantastic.
Using Bitfocus Companion, my Elgato can do quite complex things with OBS, Atem Mini (via Software Control) and Reaper.
Finally: yes, a lot of its functionality (if not all of it) can be replaced with software (e.g. AutoHotKeys and macro keyboards) but this is easy to setup, simple to use, and wonderfully tactile.
Could this be cheaper? Well, I certainly balked at the price, and cannot say it warrants *all* its high price. But if the price doesn't bother you too much, what I can say is that it does all that it promised (me!) and more.