The ability to open these is old news
I even have a spreadsheet somewhere that helps you with calculating the possible combinations after you find the first number and based on the lock's behavior. I have opened a few Master combination locks over the years that were left unattended attached to fences, in people's junk drawers, and ones in my personal possession using just the spreadsheet and some tinkering. Typically it takes me under 5 minutes to obtain the combination. (I have never stolen anything or opened a lock used to lock up anyone's personal property, though I sometimes used to find some amusement in flipping the locks that my school faculty had facing backwards so they could use the little keyhole on the back on 'storage' lockers :P )
Basically a cheap lock like this is more a deterrent. Most thieves are not very sophisticated or all that bright and are only interested in "smash and grab". And my own lock at home is reasonable, but not excessive, as it's pointless to put a fancy lock on a house that has more than a dozen glass windows that anyone can open with their lucky brick.
I do think this is a very cool device though, very creative, and tuning it to get the tension just right on the lock's shackle must have been a real chore.
Not everyone knows that you can open a Master combo and other combo locks with a "left hand" combination too. This might be fun if you need to write down a combination to remember it--anyone using a combination lock is used to turning it right-left-right, not left-right-left: