Audio-quality-wise my pair of these both work great (at the time of purchase, anyway). I'm using them to bring down really hot line-level signals before they hit my converters, and there's no unwanted artefacts or nasty business.
The build quality is where you save the money compared to Shure etc. I've used the Shure inline pad a lot and it's definitely more rugged than this one. The casing here is plastic, not metal, and feels like it might not survive a misplaced kick or mic being dropped on it etc. Fine for situations like mine where it stays wired up in the same place all the time, out of trouble. Maybe not so fine for getting thrown around at a live venue etc.