I bought a knock-off hitch haul from Wal-Mart for like $50 many years ago, back when the hitch haul brand was closer to $75 - $80. It holds up well, but it does rock from side to side in the hitch receiver. The higher-end ones seem more stable. I've used it a few times on the back of the motorhome up and down the east coast.
I've never lost anything. However, usually I haul 1 large item that is tied down with a ratchet strap. On a couple local trips, I carried 4 bikes on it before we got a bike rack.
-Michael