I believe that’s correct, but still seems like a good deal. It charges the same as a regular apple brick that’s included with iPhones. From what I’m seeing the fast charge pads cost $40-$80
Exactly. If you're just going to use the wireless to charge overnight then slow seems more than sufficient. If you want to fast charge, $40 can get you an Anker / RavPower / other name brand USB-C with PD charger and a USB-C -> Lightning cable (directly from Apple) which will charge the iPhone at a far higher rate than 7.5W. Seems like the optimal solution if you're not content with just using the 5W charger that it comes with.