The padlock shown below has a shackle (the U-shaped curved metal rod) with a diameter of about 7 or 8 mm. That shackle is too easy to cut with bolt cutters.

However, I suspected that I could easily defeat this lock by another method. Using hand tools I found in my shed, I was able to open this lock in 2½ minutes. I think I could improve on that time if I chose better tools and practiced opening the lock. And I'm no expert: this is the first time I have ever tried to defeat any lock.
I think it's too easy to beat a lock with plastic dials like you see in the picture.
A number of years ago, news spread that tubular key locks could be opened using a disposable pen. The method did not take any special skills, and could be done fairly quickly. But how many thieves know about this trick? I can't even guess about that.

Does this mean that such locks should be thrown away, if already owned? Not necessarily. I still use that lock shown above, partly because my bike is not worth much. But I would not purchase another lock with that kind of key.
The lock can be oriented so passersby can't readily see what kind of key it uses.
Such a lock could be used redundantly with another lock, as shown below.

Not all thieves will know the trick to beating these locks or be carrying the correct sized disposable pen. Even if a thief is prepared for this lock, it still would cost extra time to defeat it. Also, the double padlock setup shown here might look so difficult that a thief would not even stop to check if the lock takes a tubular key.
I probably should put all cable locks, except the really thick and strong ones, in the category of bad locks. Many thieves know how to cut them fairly quickly.