Before we cast away this dongle's shiny new housing, let's see what Google has to say about it:

Dual-band Wi-Fi 802.11b/g/n/ac

Multidirectional antenna array

USB-powered

1080p HDMI output

Apparently, Google chose to withhold the specs on the magnet in the HDMI plug housing. We'll take their silence to mean something awesome is going on.