The clip is okay, not great. It has a tendency to slide a bit, by a bit I mean a few centimeters a week with pocket carrying the whole time. I usually prefer a built in clip so that might be a personal bias. You can remove it if you want. The cap in has “2.0” printed on it, and it has a satisfying resistance to it when advancing the lead.
I am not sure why they opted out of putting a sharpener on the inside of the cap. It is a feature that most mid-level lead holders have, so if you want to put a point on the lead you can do it on the fly without having to grab another tool. I might have understood if they swapped it for an eraser - I would still rather have a sharpener - but even that is absent. The lack of an eraser is not as egregious as the missing sharpener, since it would be eaten alive by this amount of lead. I wound up buying a little plastic sharpener and a kneaded rubber eraser that I keep in an Altoids mini tin. These tins are quickly becoming a favorite storage device of mine.
This goes for all lead holders, but it's worth mentioning, these are garbage for taking notes or writing unless you print very large. I like a thick mechanical pencil lead, .7mm and .9mm usually, but this is too much. I had to adjust the size of my lettering to be able to write anything legible at all. You can get a fine point with a sharpener, but it wears down quick, especially my soft 2B lead. If you are looking primarily for a writing device you should probably look elsewhere, otherwise you'll be sharpening this thing non-stop.