I guess it just depends if it is worth it to you. Sounds like it doesnt do much more than what I am about to post in the link below and chose not to use one. The one you post does have its own contactor and I would consider maybe more complete for lack of better word?
I would disagree with your statement that it will contain spikes that could damage equipment that a SPD will not. It has a built in SPD the same as the others. No different and if that circuit eventually goes bad you have to replace the whole thing.
It does offer low voltage cut off as others do should you want to go that route if you think that is an issue and would like some protection from low voltage.
So I look at it this way, your installing and trusting a third party electronic product not to fail and if it does your system goes down and unusable where a surge suppressor is a passive device and no failure of the SPD product will take down your system.
Just to be clear I am not knocking this product in anyway, just why I choose not to for these reasons. Im sure it's a robust well thought out device, it looks that way. If you want the expense of hiring an electrician and re-routing all the compressor wiring from your home to this box in essence turning over control of it to this device or the time and effort of doing it yourself for valid concerns its all what makes us happy in the end. Also keep in mind if something goes wrong with it, that you local AC guy will be able to replace it and get your system up and running again, as all power to your system relies on this after market product. Even if something simple like the contactor in it goes bad. In standard AC systems the repair guy takes one off the truck and replaces it, what will happen with this one, from what I see in the photo nothing looks standard.
Intermatic offers much the same product at least in the objective to prevent low voltage (brownouts) harm. But you do not have to re-route the power supply from the condensing unit to the device and can be hooked up by a knowledgeable layperson. The existing system continues to use its own contactor too. It pretty much trips the lowvoltage wiring form the thermostat to shut down the compressor should a brown out occur.
I chose not to install one I dont want a third party electronic that can fail and render my system unusable until it gets replaced or removed. But I guess more so, I dont feel I need it as most modern HVAC systems will not short cycle, typically the thermostat properly set up will prevent this. If you are concerned about brownouts I have no knowledge how well modern HVAC systems deal with this.
This contains brown out protection -
So not to confuse others in the previous posts we are talking about this device below, simply passive surge suppression that I installed and another going to shortly. To me, the low cost just adds some value of protection that will last for a long time and if anything happens with it, your system continues to work just like if you never bothered to install it.