Since the wheel's motion is cyclic, and the motion of the mass is cyclic, the work done on the mass by gravity as the mass moves down is of equal size to the work it does against gravity moving back up. ... So the two processes acting together will do no net work on the wheel during each cycle.

Is overbalanced wheel possible?

To truly overbalance the wheel (so that torque in one direction is greater than the other) and cause motion, the radius of the spokes would have to be altered throughout the course of the wheel's motion.

Can the overbalanced wheel spin forever?

Overbalanced Wheel

Many early examples utilized using a wheel that would continue to spin indefinitely. ... [3] More mass is kept continually on one side of the axle while there is also greater torque as well and as each weight shifts to a larger radius, there is an impulse which is designed to sustain rotation.