I'm currently using it for Engine goggles, and it works fine.
it's not as slippery as the cheaper bands. So i would say it is worth paying $5 for it. Its a really nice band, and adjusts great (from very very loose, to very, very time) Good for both practicing and racing.
I also ordered speedo goggles with the same order, and once that band breaks, i will probably end up using this one to replace the other one. (or the other way around:))