It's fine but the mounting brackets are 23 and 3/8" apart. No wall studs anywhere are 23" apart? Not sure why they would do that!
Also the brackets have a maximum of about 1/8" of play so when you use a molly it's very difficult to hit the exact dimension.  I ended up marking studs and just drilling through the back of the shelf. The only issue is the back is very thin wood and it may not last.
They could greatly approve this product for little to no expense. The coat hooks are also very small.