This soft case is the smaller, younger brother of the Boss CB EG10, and is surprisingly well made. Some good elements went into the design. The padding is firm, even if thin. The balance is great. The overall weight is excellent. Your Telecaster or Strat will fit snugly without too much extra room around. (It is never good for a soft case to have too much wiggle room inside. )
Unlike the EG10, this model lacks a top pocket. If you're looking for something small and discreet, but which still offers the best protection a soft case can offer, this is probably it.
The drawback is that the straps are too close together at the top. They create a lump that presses into your spine just below the neck, which becomes a fulcrum for the weight of your guitar, which moves around while you're walking. This gets very uncomfortable after just a few minutes. A bit of padding where the straps meet at the top would have helped. They could also have shaped the straps differently, or angled them differently and it would have helped. Instead, they create strain on the shoulders. The padding on the straps is a bit on the stiff side, not as soft as the EG10. The EG01 does not feel ergonomic. It offers less protection for your instrument than the EG10. But if you need a small, discreet and minimalist bag for airline travel, this is great.