I almost love this item. It is very cool looking! It's also sturdy and easy to put together. However, it needs to stack or be adjustable to be more usable. For space requirements, you do need to have space to lay down the equivalent of 3 or 4 water bottles. My cupboards are just not conducive to that. I put it on the countertop and it's ok- but now I am losing counter space. I think it probably takes up more space than creates. Be sure to measure if this is a product you are interested in. 

If you have the appropriate shelf or pantry space, it is a great way to keep your water bottles. It allows them to be viewed really easily if you have a favorite. It will hold a few of the bigger ones on the top (I used nalgenes), and maybe 3, 40oz bottles on the bottom. 

Overall, just not a product for me- but possibly great for someone with deeper shelves or more counter/pantry space.