Yeah, that looks bad, it's just waiting to fall. Another thing to seriously consider is a lawsuit. It's unlikely, but if the wrong person or person's kid bumps that thing and it falls on them, look out. Now common sense would tell you that they need to pay for the damage to your bike, and rightfully so. A good lawyer however will have you paying them, even with a good stand, you'll get burned with that one.
It's gonna be when your bike falls, not if. The first fall of mine was caused by a very small dip in the concrete at the gas pump it was parked at. As I began to walk away, crash, and it was in gear. You'de have to be too careful with that not to worry about coming back to find it on it's side eventually.
Just bite the bullet and buy the stand, it'll pay for itself many times over, and I hope you never find out why.
Yea my bike has been dropped twice while on the stand. First time (stock height) was my cousin put the stand about 3/4 of the full swing and when he stepped off, it dropped, but not hard. The 2nd time (lowered) was when I got off and came back and it was on it's side. So assuming I did the same thing that my cousin did or parked on a slight slope angling downward to the right...
Now I do want a stand badly, but can't find any decent ones (I'm anti-bling). On top of that, bought a house and escrow is set to close from nov. 30th to dec. 5th. So I am broke right now as they took all the fees out of my account already. So can't afford to purchase a stand right now. Plus bike will be parked most of winter in my garage on concrete.