I actually sought out, purchased and installed one of those. It went on my son's bike. Long story how this all came to pass, but it allowed him to keep riding the bike as he grew. It's actually a pretty good stem for experimenting with different effective stem heights and lengths, although a longer riser would make it even better. I agree ti won't win any beauty contests, but I would not go so far as to say it's ugly, but that's me.

Besides, compared to some French car designs, this stem is a thing of beauty.