The pins are definitely no joke. I had a machinist build a minor variant of this rack four years ago. For the purposes of evaluating reliability, we did a 500lb drop test from about 3 feet on the pins. Ruined the cheap bar as expected, but the rack and pins were unaffected.
The design is simple, effective, and solid. The C channel steel will probably last until the sun goes supernova. Worth saving your pennies for.