In his intention, it is assumed that he is trying to create a key. But his intention doesn't strictly follow your definition of a key. I really don't know if anyone would follow that pattern of logic. He (or I) would think, "Okay, after I put the finishing touches on this, it will be a key, an object that can open locks/a lock."
His thought would not follow your definition and be, "Okay, after I put the finishing touches on this, it will be a key, an object that is intended by its creator (me, of course, ho ho ho) to open a lock, but doesn't necessarily have to. Then it'd be a failed key, but a key nonetheless. Oh boy, I can't wait to finish my key, even if it doesn't work."
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