Err, no. My rack does NOT stick a foot up off the factory rack - that's just ridiculous. It also looks a LOT better (smoother, cleaner) than this thing. Good God.

With a real rack, the weight is carried DOWN, onto the supports of the roof rack. With this thing, the weight is carried LATERALLY, being held by the two crossbars in the front/back, which is basically four screws in plastic. The sides are held on better, of course - but again, it's a lateral support of the weight. I don't know that the roof rack supports like that - they weren't designed for that.

As others have mentioned also, there are far too many failure points - rings, buckles, seams... This thing will probably stretch and flap in the wind and all kinds of stuff.

Is the hardware stainless? Or will it rust all over your paint job below?

I agree with FSRBIKER in that this might be a good option for those with clearance issues with their garage or something, but seriosuly...

Get a REAL rack.