It’s cheap because it’s stainless steel rather than the Aurigan or Sensogran bits that are popular nowadays. Otherwise it’s a french-link albeit slightly gentler with the rounded lozenge, with a curved mouthpiece that is, IIRC, gentler on the corners of the mouth.
There are similar bits that are even cheaper available on the market, it all depends in what you’re trying to achieve with your horse.
I’m currently working through various bits with a horse that is very chompy in the mouth, currently favouring a KK Ultra Eggbutt for stability.