I have one in my car..
You must understand this is just a shifter, this does not change anything about the transmission.. its just a new gadget for controlling the cable position on the side of the trans.
The stock shifter works in 'gate' mode, it slides through gears with a few stop positions, but you can slam from Park to 1st (the full travel of the trans cable) in one slide..
Ratchet shifters have an always-centered handle. Every time you pull the shifter down it pinches the cable, pulls it down one position, then lets go of the cable and springs back to the center position, same way for upshifting.. Think of having a ratchet drive for a shifter that can be ratched both up and down from the center.
The only benefit from this is never accidentally shifting from 1st to D and missing second because you have to lightly push forward the stock shifter. This one you can SLAM forward and it will only go one gear. But this is only valuable on cars with a full manual valve body.
Anyway, if you get one it its 100% for looks on a stock car. I picked mine up used for $60 from a guy that couldnt figure out how to install it and didnt think it was made for our same year model.
This illustrates how it works.. this shows a solid bar used to connect, but our car uses a steel cable (like a bicycle brake cable). Moving the shifter slides the cable which moves the lever on the side of the transmission which is what actually changes the gears.