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Whats to say... this works very well with a Swagman Bike carrier. The threaded hitch pin eliminates any sway and your bikes and rack stay rock solid with your hitch.
Would be better if they included a keyed-alike padlock to attach the other end of the cable to your hitch as it is not long enough to start by looping around the carrier and then through 4 wheels and 2 frames and get back to the receiver pin. I do find the cable works very well if you attach it to the receiver pin first, then loop through rear tires and frames coming out and then through the front tires going back to the hitch and padlock to the hitch.
I have the Swagman XTC2 carrier and wanted this so I can park and grab a bit to eat without worrying about the bikes being gone when I got back. For that purpose it works. Carrier doesn't wobble or sway much at all when using it (1 1/4" receiver).
Not much more to say, it does what its supposed to and does it well.