They've had this sort of thing since the 60's advertised. From people I've talked to in the industry, it works well in indudtrial settings. Water pipes, towers, pipelines, etc are the targets. The system needs a continuous connection and that the subject (pipe) be wet.
In automotive use, it is a bit less effective. The sacrificial anode is usually something aluminum which tends to react before the steel. The snag is that the parts of a car are not all linked and it is not always wet
It's a similar idea to galvanizing parts or full chassis like Porsche and others. The zinc coating on a galvanized part is sacrificial, the coating being eaten before any rust appears on the part. Well, that's the theory.
I got a sweater for Christmas......
I really wanted a moaner or screamer.