There are plenty of ways to secure items in luggage. This is not one of them. The guy doesn't even put the lock through the metal zippers or anything. All of these items can be cut free with scissors and stolen easy peasy. Nevertheless, I won't travel with any of these expensive items. The camera on the other hand, might be something I'd be concerned about checking, I'd put it in my carry-on if it were permitted.
The whole point of his method is to make your stuff a less attractive target.
Baggage handlers and TSA screeners do not have a lot of time. If they can't grab it and run, they won't.
If you put the lock through the zippers, then it must be removed to inspect the (now insecure) contents.
Any locks must be TSA locks except for a lock used to secure a firearm, and EVERYONE has the bypass key for TSA locks.
The TSA lock might keep another passenger out, but it's not going to stop a baggage handler, and certainly not a dishonest TSA inspector.