“The power adapter may become very warm during normal use as it dissipates operational heat through the adapter casing. If you’re using the AC power cord, place the MagSafe Power Adapter on a desk, table, or on the floor in a well-ventilated location. Avoid thick carpet, bedding, or furniture that would impact airflow on the adapter as those items may trap heat radiated from the adapter case. Similarly, avoid prolonged contact between yourself and the adapter brick when the adapter is in use.” -Apple Technical Support
This product slips around the Apple power adapter to elevate it and allow it to breathe and dissipate its heat when placed on more insulating surfaces and prevents the power block from becoming excessively hot.
It serves the secondary purpose of providing a storage area for both an extension and regular cord as additional utility built in.
Overall the product provides an simple, quick and easy solution to a mess of unwieldy charger cords as well as the excessive and dangerous generation of heat of the apple power adapter on insulated surfaces.