Wave Shredder is a perfect naming solution for this little thing. The easiest thing to do with it is thinking that it's a distortion unit, it really is not, it is a wave shredding device, which mean, that the sound gets destroyed, digital and harsh. Sound degrading is not a new thing either, but Wave Shredder has a sound of it's own and sticks out in the crowd.
You can use it to make weird sounding effects, dis-tonal noises or to give a slight effect on few things here and there, just to get some sparks around them. You don't use it to get the super distorted 303 sound or plug it onto your guitar track thinking, that this is the perfect effect on your power chord, if you do it anyway, you end up with a new and fresh artistic sound instead.
While it is a shredding device, and it is suppose to making a wave ugly and degraded, it actually does it with a high amount of clearity, and that maybe the point of making the plug-in, as the sound turns in character instead of just sounding degraded, while maintaining quality.
It's best suited for experimental genres, psy trance, 8 bit, electro and so on, as it can really turn a sound up side down. The shredding effect gives a bass or a lead a very unique sound, so it is worth buying, but only because it is so very cheap.
The value for money is high, but not in the top, as there are many free plug-ins that comes close to this baby. The things that gives Wave Shredder the "Worth the money" stamp is, that it can degrade while it is disturbing, and it has many ways of destroying sounds, into sweet noise.