i have the medium size ottolock. it was about $60. been using it for two years now. it can lock two bikes to a medium-sized pole such as your usual street sign pole. posted pics on a sheet of 8.5 x 11 paper for perspective. one pic showing maximum expansion of locking capacity.
been happy with the lock but haven’t employed it for more than two minutes unattended/out of sight lines. as you say, more of a keeping people honest lock. i usually fit it in a jersey pocket but if pressed, i can wrap and tighten it around the saddlebag. rattles a little bit tho.