It's a nice piece of machining, and an illustration of how much work it takes to machine something. Redesigning that mechanism to be in balance would be a nice improvement. Look at the vibration when it's cranked.
Here's the pro version of a yarn winder.[1] This approach has less vibration. It looks like doing this at high speed gets inertia working with you to make it easier. Textile machinery often relies on that. You can't push a rope, but you can throw one. That's how a jet loom works.
It's such an amazing looking device, so shiny and polished and professional looking. The craftwork is so well done that it's a bit of a shock when it wobbles so much in use.
I never thought out that before... and now I understand why the wooden one a friend owns has a big lump of lead in the spinning part as a counterweight (which, BTW, is too low, it still wobbles a little. I suspect a second, smaller, weight at the very top would help).
... proceeds to walk out to workshop and mill a custom machine.
Dude, you're really selling yourself short if you believe that — this is amazing!