First off, know what you're getting here. This isn't a razor for getting your crotch baby-smooth. The design is specifically built for a less close shave. This is a razor for keeping the lawn under control, not razing it completely. If you're trying to look like a barbie doll for a photoshoot look for another solution, if you're just trying to do routine maintenance so that your pubic hair doesn't get annoying and out of control, that's what this is for. The guard design keeps the razors further from your skin, so that you don't get nicks and cuts on whatever loose flappy bits you have down there that you absolutely don't want getting shredded up by a razor.
As for how well it actually serves that purpose, pretty well in my experience. I haven't had any issues with slicing up my junk with these, and they get the hair short enough to not be obnoxious and in the way or getting tugged by underwear. The biggest issue is that with the low number of blades, they do get clogged quickly and dull easily, so if you go long periods between shaves (as I do when I don't have anybody to impress) and let things get long and thick, you'll have a hard time getting through everything and you'll go through blades fast.
The ideal use if you've got long hair to work on is probably to first give a very rough trim with an electric trimmer or scissors or something to take off some of the bulk, then use this razor. Though if you're having to use something else to shorten the hair first anyway, that kind of obviates some of the need for this, and if you're having to delicately maneuver an electric shaver or scissors around loose, easily-snagged skin, that nullifies some of the safety benefit as well. I tend to use a trimmer on the upper pubic area, and use this razor for the detail work on the more delicate between-the-legs areas. If you've got a shaver with a guard that could be helpful for a first pass too.
Also, because you'll be left with some stubble, this could lead to some chafing. However, I find that with normal razors I get one day or less of feeling nice and smooth before ingrown hairs and razor burn and the sharp regrowing stubble make the next week miserable. Because this razor doesn't drag against the skin and doesn't cut the hairs down to skin level, I don't get those usual problems, so for me personally it's way better. Razors as a hair removal method are always going to cause problems, but this one skips over the vast majority of those problems, so for my day-to-day life it's the easy choice.
All in all, it's a situational product that won't make sense for everyone, but if your "situation" is one that could benefit from it, it's a nice thing to have around.
However, there is one other downside, which is that at time of writing there don't seem to be any refills for this particular razor available on amazon. When I went through the 2 included blades and needed to order more without paying for an extra handle, I had to find them on walmart instead. Maybe this will change in the future, but just something to keep in mind.