No need to be sorry for giving a mediocre product an honest test an verdict. I bet that jack protection will break easily if you forget it and put a little force on the rotary switch. BTW the magnet is there to hold the screws when you have to open it and fix it.
I had high hopes for it, but in retrospect it ended having too many gimmicky features and not enough accuracy. You might be right about the jack protection getting easily broken. OK - so the magnet is to hold the screws on when you open it up - makes sense (I guess) but without any shielding - what is that magnetic field doing to the meter? Meh - I think it is still a dumb idea.