I think many ppl are missing the point of the Mog Satchel. It wasn't designed just so ppl can have more room. If thats all it was and they tried to sell that to us for real money, then i would agree, thats a bit much.
Now what security measures you take is up to you. But SE was having a lot of problems with hacked accounts. So the security token was implemented to help counter that. The thing is, just offering that token wouldn't be enough. Most ppl still wouldn't get it. People like to believe "it hasn't happened to me, so it never will' type line of thought.
So an incentive had to be given. One that make the player base at large get this item. And inventory room is one thing that most every player would agree on wanting more of. So it was designed as an incentive to get ppl to order the token. And along the same line of thought as before, 'everythings already set up so i could get satchel... mine as well use the token i have' comes into play.
So SE isn't trying to screw you over with the satchel. Believe it or not, they are trying to help you with this setup.
Side note: I cant count the amount of ppl that bought the token just so they can have the extra room from the satchel. Which is exactly why it was desiged in the first place!

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