It's half an iPad stand for easier browsing/viewing, half a carrying case for protection. I like the way it resembles a toolbox, for turning the screen body-wards and pretending you're a builder. Is it just me who finds that appealing?
The stand can be used in portrait or landscape, and while there's no screen protection, at least the back is protected from potential scratches at the building site. It costs $US50. [Apple and Griffin]