I want to first say that it was a great price when I bought it in July, and at time of writing it still is. It functions as a case well. It's sturdy enough to protect it as necessary, and it is overall really great for that. My sole complaint is that the "micro suede" interior stained the quilted back of my kobo in very short order. As i have a white touch (with silver back) this is extremely noticeable and I'm really unhappy about it. Because of this, I rarely take it out of the case to even read, which it can handle, but if I had known I would be forced to read that way because of staining, I would've bought a more expensive one that was made for reading in!
I haven't tried to rub it off with bleach for fear of taking half of the backing with me, and I don't know how sensitive the silver underneath is, but the fact that anything up to hot and soapy water won't remove it is a big deal for me.
If you don't intend to take it out or don't mind the back of your kobo being marred, then it's still great, but I thought I should mention it because it's a very unseemly downside!