The concept of this hook system is good, but the execution is poor.  Given a 20 inch rack one would expect the keyhole slots for mounting the rack to be spaced 16 inches apart to line up with wall studs, but the spacing is only 12".  The plastic anchors provided with the rack are a bad option as these work loose over the time with use.   Additionally some of the hooks are difficult to extend.  It would have been simple to design a finger hold to provide better access to the hooks.  The last issue is the wood behind the hooks is not smooth giving it an unfinished appearance.