t's more than enough for private use and tournaments always use the clocks of their local chess-clubs (where they are used regularly!) so you don't have to bring your own.
This is B.S. you mooch. In general, clubs provide a very small number of clocks, if any.
It's not really B.S., it's just that he's from Germany. In Europe chess clubs own plenty equipment, and they organize the tournaments. You only use your own set at home.
It can also be used as a general timer. If you decide not to use it anymore, it's easy to sell. There are demands out there. Or you can buy a used one.