It's a soda bottle - it fits in your water bottle holder, and you can replace it for a couple of bucks if it fails. 80 psi is pretty low pressure (typical narrow tires are 100-120) and the bottle itself is very low mass, so the fabric around the bottle should ensure safety if it bursts.
IIRC these came out in the early-mid 90s; a bike messenger trick at the time was to fasten the horn to your handlebars with velcro, so you could take it off and hold it near a car window when triggering it.
I suppose I should maybe not worry about 80 psi so much. An ordinary bottle of soda on a moderately warm day is around 80psi. The energy is 1/2 * pressure * head space (roughly), and head space is minimal. But you can chill it in the fridge, then open it and quickly pour out half, then close it and let it warm up, and you may still be near 80 psi, and I’ve never heard of anyone getting maimed by an exploding soda bottle.
If it fails by blowing the end off toward your face what damage will it do?