The bad:
I knew about it even before I bought it, but all stands seems to have the same problem; they will ruin the laquer of your guitar!
There's an easy solution though. Cut it off and replace it with something else. I went to the hardware store and bought some material for protecting water pipes inside walls and put on instead. It doesn't look super fancy but it won't trash my guitars.
The good:
Super sturdy, feels reliable. It can be folded which is good for gigging.
Also worth mentioning is that the two bars that the guitar is standing on top of is not mounted on a pivot arm, but can be bent into a desired shape if you just use some force. This is more of less necessary if your guitar is of a different body shape.
In conclusion I agree that some work had to be done when I bought this stand, but the result was the best guitar stand I've ever had.