I have the exact rack -- I bought it for about 25 bucks prior to the price increase. I agree that it seems too small, but I understand why it's the size that it is. Unfortunately, even though the magnets are strong, they can barely hold up a completely full rack -- I use the small plugs that BRS sells and it actually gets heavy. So, if you were to make your own rack, you'd need to buy more magnets, and you can't make it much wider, or it'll end up tipping over. You could go longer, but again, more magnets!
I agree that the eShopps racks have terrible magnets. I bought a couple of used ones and quickly got rid of them.
If you were to make your own racks, you may want to consider making an 'L' shape out of egg crate, then adding 4 magnets instead of 2. This will increase stability allowing you to make it wider.