That Home Depot part isn't really a "whole house" solution. It can only accept 12AWG wiring so it's really only useful for one circuit.

The other MOV-based solution isn't workable either since it is a one-time only solution for large surges. MOVs work by "falling on their sword" when their maximum joule rating is exceeded. They also slowly degrade over time as they shunt voltage over their clamping voltage to ground. (at least that's how I remember it....it's been a long time since engineering school).

Lastly, surges coming in from outside your home are one issue. There are also quite a lot of surges within your home when A/C compressors go on and off or your refrigerator's compressor goes on/off, etc.

Cheers,