Fly in and out of CAI fairly regularly and worth noting the security there actually has two levels. You can't get through to the check in desks without first passing through an initial baggage x ray and body check. You also are not allowed to proceed without a valid boarding pass or booking checked against the manifest (fun for standby staff travel).
Security is then conducted at the entrance to the gate waiting room, this has always seemed as effective as other airports to me.
Obviously this is Cairo not Sharm but I've also flown domestic from Sharm and I wouldn't have called it a dangerous airport (taxi speeds aside).
However my other experience of living/being in Egypt a lot is money always talks...