Originally Posted by meynaf
Yup, but it's only the connection to the outside that must be secure.
Your friend can come round and use your device. In that aspect, the Xbox 360 is still no secure as it has no way to lock you out of purchases. As long as you have access to the console, you can make purchases.
Anyway, again, comparing personal computing of back then to nowadays is just plain silly. Many things have changed so much, new needs have appeared, etc.