That thing looks awkward, I probably wouldn't buy it for any price. I do have a plain steel rod on a lanyard I bought in the Philippines, as they were in common use where we stayed and made sense for much of the diving we did (like drift muck dives.) But it was a bit of a pain to find the right place to stow, and it's not something I would take with me all the time, not to mention I suspect they might not be happy with it's use many places. I haven't found rattlers to be good at getting anyone's attention, especially the person I want to get. Banging something metal on the tank on the rare occasions it is warranted works better, but I don't need something a foot long for that.
But marketed as a multi-function device - pointer, banger, rattler, and stake with an easy-grip handle (assuming the connection between the rod and the rattle part is strong enough to handle the load, hard to say since the product description is for something else) then someone will pay good money for it.