Pretty effective. I think that a lot of what makes it work is that the bike is hanging in the tree--the rear wheel is about a foot off the ground, so you look at it and it doesn't immediately register as "bike."

On the other hand, the entire thing draws attention, but in more of a homeless-person's-shelter way than a parked-bicycle way.

I can't imagine carrying all that stuff on the bike all the time, but it could be a favorite parking spot if the user hid all the covering material in the hedge.