I’m not sure I really understand this tool. Or, why this would be better than drilling a pilot hole. Unless the thread pitch of the screw you’re driving is the same as on the tool. Also, the tip of the tool is tapered. I’m probably missing something.
Garrett Wade makes a modern version of this tool (Made in Taiwan). Not sure why it took months of development to make what looks like an exact copy of this Irwin tool.
I think I’ll stick with a gimlet. Or an awl. Or a bradawl.