If a one has any physical/IPMI access to a node, then the one can do whatever he/she wanted with the bootloader if BIOS/UEFI setup isn't protected by password too.
protecting grub with the password is a kind of non-sense for such case, the one could load any other bootloader/OS with ease.
therefore, without more low-level protection in advance, this grub password is next to useless.
If a one has any physical/IPMI access to a node, then the one can do whatever he/she wanted with the bootloader if BIOS/UEFI setup isn't protected by password too.
protecting grub with the password is a kind of non-sense for such case, the one could load any other bootloader/OS with ease.
therefore, without more low-level protection in advance, this grub password is next to useless.