This makes me laugh. How am I supposed to edit a page which is password protected (a password protection template is applied to this page)
When I try to edit the actual page, it’s showing me the TEMPLATE in the editor instead of the page content.
BUG or something I missed ??
UPDATE:
When I go to the frontend and try to access the page, and ENTER password to unlock.
Then, if I try to edit the page in Bricks Editor it shows page content fine.
Who are logged-in users in the screenshot you shared above? I mean only admins or any user role?
If user with any role will be able to access it (even while I’m editing the page) this can be a problematic. Not for me right now but for sure in future or the sites with significant traffic.
Good question 
“Logged-in users” means any logged-in WordPress user, regardless of role. So if your site has subscribers/customers or other frontend user accounts, they would also bypass this password protection when the option is enabled.
If you only want editors/admins to access it, don’t enable that option on a site with general user accounts. In that case, unlock the page once on the frontend with the password before editing (as you already mentioned) 
