These are excellent products to add to your emergency kits and stash around wherever you may need them. While certainly ideal for a survival or preparedness standpoint they serve well for a number of simple everyday homestead uses as well. The collapsible nature of the bucket allows for easy and minimal storage space, yet it can serve as a water (or other) container when needed by simply popping it open.
What is nice and different with this item as compared to a water bladder is the easy-to-carry nature. Being made of solid durable canvas with a tough built-in carrying handle you can easily tote water from one location to another. These containers are dense canvas, but not waterproof. The water will slowly seep through the walls on the bucket. Roughly about 20 minutes or so will bring the bucket to near-empty from full. These are great to move short distances quickly, but you can also easily add a plastic trash bag as a liner and allow it to hold water indefinitely if the use case calls for it.