...good enough for a utility holster. That is, for holding the gun at the range, walking in the woods, even hunting (Note: for those purposes, it hardly needs the retention strap.)
That's pretty much the way I saw it when I made the buy. I had NOTHING in which to carry my bigger revolvers (currently 4 N frames, an L frame and 3 K frames). My routine carry is either a J-frame revolver in a pocket holster or a nice high-riding OWB holster if it's cool and I can cover it with a jacket or sweater, or a LCP in my back pocket. I have some property up north around which I would likely be walking or riding with the possibility of deer hunting or black bear sightings and this would make a reasonable way to carry something suitable for that environment, albeit infrequently. I'm kind of clumsy so I would probably use the strap anyway.