Haven't tried it but it looks like it's just a bling fashion accessory to me.
I doubt they're several times better than a utilitarian one to justify the several times higher price.
The product pages don't have item descriptions exuding any passion for guitars or explaining their functional better qualities.
That said - it is a pretty cool gift if you know someone who uses a capo and you give them one plated in gold and covered in diamonds. Too gaudy for my personal tastes though.