Magnetic tubular latch

In what way is it "magnetic?"

And why does the illustration show it to be bolt-shaped, not latch-shaped?

What attracted you to it?
 
In what way is it "magnetic?"

And why does the illustration show it to be bolt-shaped, not latch-shaped?
I haven't seen them before, but here's an example:


Because of how it operates, it doesn't need to be latch shaped!
 
In what way is it "magnetic?"

And why does the illustration show it to be bolt-shaped, not latch-shaped?

What attracted you to it?
I had been looking at some LPD doors that had a particularly narrow stile, and they have their own narrow backset magnetic latches https://www.lpddoors.co.uk/ironmongery-manhattan-standard-magnetic-latch/ and thought they looked a bit fancy, but with a price to match.

I just then looked to see if there was a better priced alternative for doors with standard stiles
 
I haven't seen them before, but here's an example:


Because of how it operates, it doesn't need to be latch shaped!
Thats right, the handle only retracts the bolt, and it then stays retracted within the latch. Then on closing the door, a magnet in the keep pulls the bolt across keeping the door shut
 
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