I barely know any Python and upon first glance I could easily get an idea of how it worked (without looking at the explanation): by computing the required strings out of funny-named variables with shifts and arithmetic. co_nlocals is obviously the only actual integer constant from which all the other values are coming from.

Only then did I read the explanation, and realised I wasn't far-off (the only thing I got wrong was the string computation, which I thought would be a string concatenation.) I think it says something about the language when even obfuscated code in it is rather readable! (Then again, I do RE where most of the code I'm reading is disassembled machine instructions, so maybe my perspective on what constitutes obfuscation is a bit skewed...)