I had one like that that someone gave to me. Since it was from a quilter, I thought it was a sewing tray
The one I had was gray, and even though it seemed totally cool in concept, it practice it wasn't so great, for me, anyway. I tucked a lot of stuff into it, but it was out of sight, out of mind. Also, one tray was cracked, and it affected all the other trays. Eventually I got rid of it and don't miss it.
That said, if you think it would work for you, give it a try. Storage is a good thing!