I'm very happy with my 53 Pencil. I am using an older iPad (Air). I don't use the eraser function on the stylus, but there are some issues with it responding as an alt (eraser)brush in the current build. Other than that, it pairs well, stays connected and performs well when drawing.
What I like about any stylus is that I have a familiar gestural grip on the drawing tool (more than just my finger)
I have tried the Apple pencil on the newer iPad Pro, and it works really well - definitely on my list for when I get a new iPad.
There is definitely a different feel to the 53 (square / heavy) vs. the Apple Pencil (round / light).
The nib also behaves differently against the glass.
My 2¢ = Try it out. It's not expensive, but you might consider that the cost of that cheaper stylus could go toward a more expensive one.