Is there an actual use for this type of product? $30 for a plastic Chinese lightup toy seems like the definition of a “sucker born every minute” type of device. I had an entertainment version of this same LED/45-degree angle plastic thing that I got for my daughter for like $1.50 shipped from China. $30 as a closeout price… yeesh.
Yes. You get to make other people (slightly) richer. 
It detects UFOs.
And magnets
There’s a webpage with assembly instructions (it originally could be purchased as a kit. The electronics are worth a couple of bucks - that’s it. The most expensive part is probably the PIC microcontroller and that’s about a buck.
I was hoping someone would tell me you could reconfigure it and use it in a useful way, but this was the response I was thinking I would get. I’d just love to know who determined what type of signal would generate a UFO detector response. Like, laser, radar, radio frequencies. My guess is whatever sensor was readily available. Still though, this would be something I’d pick up for my uncle at $10 or less just for the fun of it. $30 makes me think it should actually do something useful.
So aliens are magnetic? Why are we just hearing this now?
No, no, no. Their ships are!