I don't think this is very good value, the best thing about the apple pencil is how good the pressure sensitivity is and this one doesn't have it.
For note taking you don't need an apple pencil, any pencil for a tablet will do.
For something which is useless without a much more expensive item (iPad), why doesn't Apple sell things like this at cost or for less? $79 seems like gouging for a device my kids are likely to lose or break.
Based on the bullet points on the page, compared to the second generation Apple Pencil this new cheaper one lacks: wireless pairing and charging; pressure sensitivity; double-tap to change tools; free engraving.