This. The Oblivion system was good, because it was based on the player's skill with the lockpicking system. The security skill was just an aide on the side. However, Skyrim lockpicking is nigh impossible if you lack lockpicking perks/low lockpicking skill, because it's mostly chance.
You can open them at low level cause the angle you have to set the pick when your turn the lock is fixed. You can move the pick in small increments around the lock, breaking picks as you go, until you find the spot where the lock turns. With a little practice doing that you can pick even master locks with only a few broken picks.
Losing lockpicks isn't really a problem since you can buy them in batches of 30 from certain vendors plus you'll find tons of them while you're adventuring.
The best way to stop unskilled people from opening master locks is to have the tumblers reset if your pick breaks because then you can't just fiddle around a master level lock until you find the unlock point.