In my opinion, any device that shifts from a high impedance to a low
impedance to protect an attached, parallel load, needs another part.

The additional part is a series energy limiter, examples a PTC device, an
inductor, a resistor, a fuse, etc.  The resulting circuit is nothing more
than a shunt regulator with the load and breakover device at the same
voltage, the remainder across the series limiter and the mains impedance.
The mains impedance tends towards 1/2% per unit----a very small number.

This point was made several years ago when an ambitious marketer brought a
voltage suppressor comprised of several MOV's in parallel across the mains,
and nothing else.  We gave it single simulated lightning disturbance---when
the smoke cleared all that remained of the suppressor was a dark stain on the
test bench.

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