In a word, I would describe this tool bag as adequate. There are plenty of compartments for all of your tools, and it's better than a toolbox in my opinion, but it seems to be designed to be more generic rather than having specialized compartments for specific tools. It definitely gets the job done, and it's nice quality, but I was hoping for something that would provide more organizational benefits.
Designing a more generic tool bag is obviously favorable because it can appeal to the broadest number of people. I was hoping for something more along the lines of "utility knife here, hammer here, square here, pencil here, tape measure here, etc". Instead there's all sorts of variously sized compartments that tools don't really fit into perfectly. It means not only wasted space, but also that tools don't really have a specific home so you have to search for them when you need them. Of course you could just remember where their home is, but if the bag enforced that for you, it would make things a lot easier.
The thing about this bag being a "bucket-less" organizer is that it means it's smaller and more easily squished into tighter spaces. It also means that the amount of real-estate available in the bag is reduced. A bucket organizer enforces that space within the bag remains constant while being able to put tools on the outside of the bag. Without the bucket, the tools on the outside collapse the bag onto itself and make it difficult to work with. But this is really just a minor point. It really comes down to a matter of preference. I personally prefer this bag to a bucket organizer, but I'm just a handy homeowner and not a professional contractor.
So sure I would recommend this product. Just understand the caveats.