That’s a fine hub if your primary concern is more TB/USB-A ports. But note it doesn’t charge 16" MBPs at higher wattage (MBA and 13" MBP are fine though) and it has no other ports.
CalDigit also offers high-power charging along with a whole lot of other ports for $20 more, but of course with this one you only get half the USB-A (note only Gen 1) and USB-C (note not TB3!) ports of their Element hub.
Both are particularly good at one thing, but not the other. It’s important people understand each one’s limitations.
Personally, if I’m spending that kind of money though I’d prefer getting one more TB3 downstream port and more type A ports (again only Gen 1 though). CalDigit has that for $250.
But once you’re at that price point, you might as well get this OWC dock. Same price but more TB4 downstream ports and real Gen2 USB-A ports. Note no DP or HDMI ports (but you can use a dongle/cable off one of the TB3 ports for that).
But just to come full circle, the CalDigit Element compares really well to that, especially at the $140 introductory price. With the OWC TB4 dock you’re essentially paying over an extra hundred bucks for some added wattage, a Gigabit port, a card reader slot, and audio. Unless you absolutely need some of that (and note that apart from wattage all of that can be achieved with the appropriate dongle), chances are you’re better off with the Element.