Got mine yesterday, blue, and I'm impressed (and seriously fast shipping - ordered Thursday of last week.) $5? Insane. The TPU is not quite up the quality of, say, Iskin - it's softer and "stickier," but otherwise feels very high quality. I have no concerns about it. No one would know it was a $5 cover.
Two gripes: it has a couple of ugly marks where it was cut from the molding sprew, which I spent some time slowly nicking away at with a very sharp knife, and the material over the volume rocker makes it almost impossible to control the volume. Not sure how to combat that yet, but I'll work on it. If I figure something out that's easy and not ugly, I'll report back.