This is a paper wallet.
A paper wallet doesnt mean the wallet is made of paper. Paper wallet means you are storing the provate key in plain text or some very simple encoding (this is subject of the article).
Time locked transactions are irrelevant on the case, as this is a gift, and you want the Satoshi to be in the immediate availability of the recipient (she could spend the Satoshi tomorrow, if she wants).
The timelock is indeed optional, it's useful only if the sender wants to have the money spent only after a certain age.
And I meant paper wallet .. made of paper. I have to admit that this capsule is one of the simplest of the "complicated approaches", but I just don't see the reason for using (crypto)steel.