Good news! It does shatter safely when I'm a careless dumdum.
I use two of these, one in my tank and one to heat my buckets for water changes. Today I messed up by doing exactly what the description tells you not to do—I left it running while not submerged. "It'll be fine," I said, "I'll be right back with new water, it'll be out for less than a minute." Like a genius.
Well, the perfectly predictable happened. By the time I got back (more than a minute later), it was overheating and sizzling itself dry. Then, like a genius who didn't take physics in high school, I thought, "Well, I'd better put it back in the new water to cool it down!"
As advertised, this heater did not explode. It shattered in a perfectly safe fashion, with a couple of large, easily visible chunks of glass falling straight down into the bucket, no flying shrapnel, etc. Most of the glass just cracked and hung together for a few more minutes while I cooled it down to throw it away, though the bottom quarter or so did eventually fall off.
A worse made product could have absolutely exploded and sent shrapnel flying when I did the dumb thing I did. Nothing is unbreakable when you add human error to the mix, but you can make things break comparatively safely, and this heater did that. I've ordered another to replace it.