Given the silly price of Bushnell products, this is a more than adequate stand-in. Seems to have no problems picking up flags and seems to be accurate - the laser operation and calculations will be identical to what any other manufacturer uses, save military use.
Instructions are clear enough and haven't been translated horrendously from its native Chinese.
The only silly thing about it is that the yardages are given to two decimal places. This is only worth doing if the accuracy is within 0.01 yards, when it's not - it is only accurate within 1 yard. The extra numbers are a bit annoying and don't mean anything.
Overall, if it fails in anything over 2 years from now, I'd say it's amazing value for money.