Good if you don't have a garage, hopefully it's waterproof. As far as "big time protection" I don't think sheet aluminum and inch square alu frame would stop a thief for more than 20 seconds. With a car and a rope this could be opened in less than 5 seconds.
Excellent storage for those with little space though.
I guess if backed up with alarms and ground anchored heavy chain type bike locks, it could work for most people, but the light gauge looking frame and tin skin construction might not hold up to hooligan theivery type force and tools....
I don't think I would want to keep my tools and gear out in the cold. Neat concept. Agree that it wouldn't stop a determined thief, but to be honest, garage doors aren't that hard to break through either. Massive step up from disc-lock and bike cover. On the pricey side though compared to a shed or something similar, though nowhere near as slick.
I know, install it in your garage and disguise it as an enclosure for plumbing or electrical equipment for the house by putting Culligan Man, GE or Carrier decals and logos on it (One might even consider running fake hoses, wires, pipes and conduits from the adjacent walls into it) and Voila! No visible bike to steal!
Sure, some sly theives will not be fooled, but maybe the locked enclosure might slow them down enough to either get caught or cause them to give up trying to steal the bike.......and the tools.......