There's no point in comparing molded glass (slag, milk or otherwise) with blown glass. They are just different.
Weight or "heft" as you put it should not be taken, in itself, as a sign of superior quality either. In this case its purely the result of the size of the piece and the thickness of the glass. Though there is skill in successfully manipulating very large red-hot semi-molton glass blobs on the end of a long rod !!
The Czechs were making bright yellow, in "tango" styles, back in the 30s.
I have come across several items with wobbly rims in bright colours, a couple with a similar base profile to this. One was yellow but not quite as opaque. All were mold blown and of suspect quality in various ways. I have suspected for some years that they are Japanese but I have absolutely no proof whatsoever. I had thought from the late 1940s to early 70s. The quality of finish of many other (non-glass) Japanese products of that period is also often lacking.
Yellow is a highly culturally significant colour in China. I don't know if that applies to Japan as well.