The belt looks good, nothing spectacular, but nice enough. It is no thicker than a "regular" belt, but has an insert to provide the stiffness needed for carrying a gun and accessories.
I've used it for a few days now, and it has performed admirably. I loaded it up with my Glock 19 in a C-tac holster, spare mag carrier, knife and cell phone. No problems there, as for performance I can't tell any difference from my Beltman, even though this belt is not nearly as stylish.
One advantage the 5.11 holds over the Beltman is the thickness, or rather the thinness. I sometimes have a hard time threading a OWB holster onto the Beltman due to to thickness of it, and certain cell phone holsters won't clip onto it securely because it's too thick.
The other obvious advantage is price - the 5.11 belt was 29.99, my Beltman costed me about three times that much.
Time will tell how well this new belt holds up. I wouldn't choose it over the Beltman, but it's nice to have another gun belt around.