You're not understanding. This stick measures in radians. At six times the resolution of the U360.
This means you're not restricted to a grid. Diagonals have the same volume of space as cardinal directions = diagonals are as easy to reach as cardinal directions (pokes Randy at GGG). Division between directions is a straight line, rather than stepped. And it is more responsive than any stick ever made - with the exception of any analog design (pot-based, or the original hall effect design).
A stick shaft moves in an arc, and the Magenta tracks it 'natively'. This is what the U360 should have been capable of at least within a year of roll-out, and is probably the answer to why it hasn't been embraced by the shmup and fight stick communities. I don't know why Paradise Arcade designed the Magenta with those communities in mind, but it is the joystick for the emulation community. I assume software map change on the fly is a trivial matter, if not already feasible but not showcased. If so, and if they can get the cost down to $70, Andy at Ultimarc may be scrambling to re-fit the U360. Which still won't be as accurate as the Magenta, due to the sensor design.