Well if you think it's lame then you think it's lame no hard feelings. It is held on by a hardened set screw. The bottom of the screw is a hollowed conical design to prevent it from slipping. Since the rod is hex bar and made of a soft metal it gives the screw a flat surface to bite into that holds well. It sounded similar to the knobs from autozone that you've described but I don't like buying tacky stuff that feels like it's going to break.
I tested mine for a few months before I decided to try and sell some on the forum as I know how annoying it is to spend money on something of poor quality and function. As I have had to do a lot of maintenance since the previous owner was slacking I end up opening my hood 6-8 times a week at minimum and haven't had any problems.
I'm sorry I can't make them cheaper than the oem ones as the materials I'm using are expensive and I don't produce them in high volume. The cutters used to machine them are between $15-30 a piece and it requires 3 different cutters which wear out due to the hardness of some of the materials plus a separate set for aluminum/plastic, and the holders for the tools are between $200-300. Along with multiple drills, the tap, tap handle, tap oil, cutting lubricant, and the use of the machinery, the facility, and my time. The reason I'm making these are for the people who have broken the plastic pull but the release mechanism is still good, it guarantees that they won't have to spend whatever it costs to replace the oem due to the plastic pull snapping again. For some people if the latch mechanism at the hood is worn out, damaged, or not working and it's not just the broken plastic pull then yes the full oem mechanism replacement is a better choice. Not to mention the labour or cost involved to remove the entire assembly and replace it just for a plastic release that could break again.
The other thing is that it's a custom made part. They're not made in China or manufactured in huge quantities. I make them as people want them so I can ensure that the quality and satisfaction will be there. If someone was very concerned about one screw not being strong enough to hold it on I would gladly put a second screw in for them. If they want the edges to be more/less rounded, or a 45˚ chamfer, or they wanted the front face to be concave instead of flat I can do that. We're a small market so I can take the extra 10 or 15 minutes to make a slight change or addition to help give you want you want. (within reason obviously)
Installed picture. (that is the prototype and I hadn't completed the rest of the finishing so it looks a little scratched)
Installation (finished 6061 aluminum)
Set screw