What is this thing ??

It's a "Variable frequency drive" - a speed controller for three phase AC motors.

An inverter with AC in and three phase variable voltage & frequency AC out.

(The very first one we used, decades ago, cost around £5000 for a 6KW one; it was massive!)
 
The listing is for inverters of various powers and colours, and for a remote control panel which could well be useful in some applications.

The remote control panel seems to have dropped to less than £1. It is just the remote control panel.

The inverters themselves are around £40 which is still cheap but believable.

Like rjenkinsgb, I remember paying over £1000 for a 1.5 kW inverter a long time ago, and £80 for a 3 kW inverter in the last few years.
 
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