And you're not missing anything. Over time and lots of use the plastic just gives up the ghost and doesn't clip on very well. Much like the sensors plugs that the clips snap off of left and right. Rodney's got a good fix there for the price. I'm sure you could rig your own as long as you find some kinda of pipe 3/8" OD to act as a guide. That way the plastic eye won't sit loose over, say, just a bolt thread. If you drill out the old retaining ball j believe you end up using a 1/4" bolt.

For the time and effort, vs 19$, personally I'd just buy the part that's been working for others for a while. Should be a permanent fix unless your cable physically separates somewhere down the road.

~James