I get what you're saying, but I think we have snowboard locks for different reasons.
I don't use that cable lock because it's a foolproof system that would take an army of master thieves years to crack; I use it because:
a) it's light so it doesn't bother me to ride with it.
b) it's a simple deterrent for a thief to move onto the boards of one of the 90% of people who leave their boards completely unlocked and free for the taking.
Also to be honest, I would genuinely get a kick out of someone trying to steal my board at a resort. I'm never out of visual contact with it for long, so if someone wants to try it, odds are they'd be swallowing their teeth shortly thereafter.
Same here. If somebody really wants my board I'm sure they would be able to steal it even with it locked. It's a simple deterrent against crimes of opportunity.
I'm sure that everybody here would say that if he saw somebody trying to steal his snowboard, he would go "knock his teeth in" or something similar. I'm wondering however, what everybody would do if he saw somebody cutting the lock on a random board on the hill? Would you go confront the person? What would you say to him? If his reply were something like, "This is my board; I just forgot the combination" or "I lost the key" then what would you say or do?