Just bought one for my Dad's iPad Air 1. Yep it's expensive but the Belkin has a combination of features, some unique, that are not seen in other keyboards covers. The 'up to one year' battery life is a standout feature considering most of the competition, like the Logitech Type+ are around 3 months.
The back cover/case is easily detached from the main keyboard and can be used on its own. If you have an Apple Smart cover then this can be used to protect the screen when you don't need the Belkin keyboard.
The vertical/portrait orientation is a unique attribute, handy for viewing certain types of documents and typing lists etc. Other features include Auto keyboard on/off, auto iPad sleep/wake, backlit keys, pairing of another device such as iPhone. I also like how they've put grooves near the speakers so that the sound is more directed towards you, making the iPad sound a little better.
A few niggles: I don't like the small return/enter key, much prefer the typical Logitech layout with slightly bigger enter key.
Most uses of magnets are good, like the 'case closed' magnet and the main docking angles. However the back flap magnet seems very weak in comparision , making the magnetic connection between the flap and back cover less effective. I guess they did this to make the back flap as slim and flat as possible.
When closed the aluminium front cover looks very nice but when used in keyboard mode this becomes the 'bottom' of the keyboard case! I can see this getting scratched quite easily as there only 2 tiny little dimples to provide some protection. I will put some Bluelounge Kicks (sticky rubber strips) on the front to help protect the surface from too many scuffs and scratches.