It's good in that you don't have to dry the food items out or worry about impaction (at least I've had no issues with it). I was worried about impaction on Coir Peat/Critters Crumble but it hasn't been an issue at all.
But it is a right pain in the bum to clean. This is where Coir Peat/Critters Crumble is better. So easy to spot clean.
Snakes seem to shed just as well on either substrate.
I used it for my blue tongue lizard, I found cleaning it quite easy with the hose and a tiny bit of dish washing liquid to get rid of any bad odours. Worked well as I had heaps of spares, I would replace it with a new one while the other hung out to dry, only problem was that she always like being underneath it instead of being in her hide.