It doesn't necessarily mean there are no security pins. I can easily rake open a Master Lock 140D, despite those having spool pins.
For those who don't know, watch LPLs videos on this brand and you'll see what's level of security they offer (basically none)
I don't know about serrated pins though!
I think the point is, almost anyone with 5 minutes to watch a video on basic techniques (or who is interested in spending 30 minutes just messing around with no prior knowledge) could probably pick this very expensive lock.
To do what you're describing, some people wouldn't get it, and for those that can do it (most, with some practice), it'll probably take 30 minutes to an hour of practice - or a day or so for the outliers.
It's a huge difference in difficulty between the two for a few cents in parts.