This is a lightweight tray made of lightweight materials. 
The bottom of the tray is comprised of a layer of varnished veneer and particleboard backing screwed together. The screws are shoddy and stick out. There are 6 foam stickers applied that are seemingly meant to raise the tray up enough so that the screws don’t scrape your tabletop. They are insufficient. 

I would have been disappointed in this tray at a quarter of the price, but at the full price I am simply SHOCKED.