For fifty dollars the S1 gives you a QR-only air gap, a secure element, a self-destruct mechanism on tamper detection, and support for dozens of chains and thousands of tokens. On specification alone it is the best value in the category.
The closed firmware problem
You cannot read the code. Every security claim — that the key is generated properly, that it never leaves the element, that the random number generator is sound — rests on the vendor's word and third-party certification rather than on public review. For a device whose entire function is eliminating the need to trust anyone, that is a structural weakness rather than a detail.
Ownership
SafePal's largest backer is Binance, which means the device that holds your keys and the exchange you may be avoiding are commercially connected. Nothing improper follows from that automatically, and it is a concentration users should make consciously rather than discover later.
Practical use
The workflow is genuinely air-gapped: transactions move by QR through the companion app, and the device has no USB data connection or radio. Coverage is broad enough that most users will not need a second device.
Who should use it
Budget-conscious users who need multi-chain air-gapped storage and accept closed firmware. If verifiability matters to you, a Blockstream Jade costs similar money with open firmware for Bitcoin, or a Trezor Safe 3 for around $80 with both.