Who this is actually for
If you've got a Samsung phone and you're forever patting your pockets in a panic before leaving the house, this four-pack makes a lot of sense. Stick one on your keys, one in your bag, one on the dog's lead, and you've still got a spare. At around £33 for the lot, that's roughly £8 a tag. Honestly, not bad at all.
The SmartTag2 works through Samsung's SmartThings network, which is where things get a bit limiting. If your household is half Apple, half Android, this won't work across the board. It's firmly a Samsung thing. Worth knowing before you buy.
The AR compass bit
Samsung calls it Compass View, and yes, it uses your camera to point you towards a lost item. Sounds like a tech demo. And look, it sort of is, but it does work when you're close enough. I tested it hunting for a bag shoved behind a sofa cushion and it got me within about a metre. Useful. Not life-changing, but useful.
The battery life is rated at around 500 days, which is a proper improvement over the first gen. You're not going to be fussing with replacements every few months.
One honest reservation
The range drops noticeably in busy areas where there aren't many Samsung devices around to ping off. The network isn't as dense as Apple's Find My, so if you lose something in the middle of nowhere, you might be waiting a while for a location update. For everyday home and commute use though, it does the job fine.