Is the Toyota "spare tire lock" that adds on to the crank handle any good?

By "good" I mean, are they "keyed" in some manner or are they all the same so that anyone who happens to have one of these can still crank down my spare and swipe it?

Back in 1996 when I bought my new T100, Toyota had "JUST" come out with this new-fangled "spare tire lock" but it was not available yet when I bought the truck. The salesman poo-pooed the accessory saying that I did not really need it as "you need a special tool to remove the tire already!"

One week later my spare was gone because the "special tool" is just a piece of square stock that every Toyota truck owner gets with their truck. Now my spare is chained to the frame and it has been there since.

I would like to NOT put another chain under there (especially in this weather) but looking at the pics on the Toyota website, I just don't trust this "new-fangled" lock to be much of a deterrent.
Maybe I am just an old fart, but I still see a lot of people driving around with those cables hanging loose under the back of their vehicles because someone ripped off their spare and left the cable dangling.

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Black 2008 DC 5.7L 4x4 SR5
with "Mystery Brand" spray-in bedliner.

I have it on my truck. Anyone with the Toyota spare lock key should be able to lower your spare. So it's not perfectly safe, but only half the new Tundra owners can steal it instead of everyone. Same with the wheel locks.

I kinda wish the opening was blocked more by the tailgate. So a locked tailgate would keep the spare secure as well. Course then you couldn't get at it but you get the idea. Just some better way to secure it.

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2007 SR5 Crewmax 5.7L 4x4
Mods: nerf bars, Truxedo tonneau, radar detector power, fog lights, black billet grille, rear differential breather, parking sensors, Line-X, power tailgate lock, hood safety latch mod, one off driving lights behind grille, Pioneer NAV w/ OEM camera, Flowmaster 50 SUV dual/dual, blue LED dash lights, Volant CAI
All mod descriptions and pictures © 2007,2008 by Toxarch. They may be copied only for personal use and the mods may be done for non-profit only.

then its back to the chain gang for me.