Joel,
Went through similar thought process. Our mtn home has slide bars in both baths that I thought were all metal until I removed one due to some maint work and found they were same as this one, plated metal rod with plastic end caps. No problems in about 12 years. For $12 vs the $150+, I can replace it if there is trouble, Mounting is only 1 screw on each end so no problems expected with a remount if needed.
Steve