I haven't used that rack, but I like it as an alternative for the full GIVI rack.
As an owner of a GIVI hard bag, I'd likely go with this ( or similar ) rack and purchase the generic GIVI baseplate to bolt onto it.
I'm not a side-bag kinda guy, particularly if they're not bolted on. I don't want sidebags that flap around or, worse, can tilt and shift. The stories of soft sidebags sliding into the rear wheel are few and far, but that still is enough to cast doubt if I was riding with them.
The lockable softbag as you show above seems like a good alternative if hardboxes aren't your thing.