Technically it is for grabbing on to the spark plug primarily.(designed to protect the spark plug when you pull it out)
Agreed. My rubber one broke off as they so commonly do while I was in the middle of reinstalling plugs in my old Accord. Luckily, it broke off in a way where if I put the socket back in the cylinder where it broke off in, it would come out with the spark plug, so getting it out wasn't very difficult. I went out that night and bought a magnetic Duralast socket from AutoZone instead. Haven't had an issue with it.Funny thing, my magnetic spark plug socket is a bit to strong so it can pull out my extension if I'm not careful... still much better than the rubber insert style. Its also a good idea to hit the spark plug ceramic with just a bit of dielectric grease / silicone lube to allow the spark plug boot to pop out easy the next time.
-Charlie