Just like those book safes you see in stores, the benefit of a contraption like this is that thiefs might not know to peek inside a radio sitting on the shelf for valuables. For that reason, it's ok that it doesn't lock and just snaps shut. Although we don't see why you can't take this DIY project to the next step and add a lock.
Check out the slideshow at Instructables here.
OTHER VINTAGE TECH ON DISPLAY: