They're also effective against incompetent thieves. Anecdotally that's a pretty high percentage of thieves you'll ward off that way.

Exactly. There's a lot of strongly worded stuff in here about how easy locks are to defeat, but that's only against someone who's practiced the art, which is a very small percentage of the population. And in my experience they're mostly honest people interested in the technical challenge, rather than criminal exploitation. A typical modern lock is going to massively slow down or outright stop nearly everyone who comes up against it.

Yeah, moar burglars aren't the kind who spend 10000 hours honing their skills.

People with that kind of dedication can often find gainful employment :)