During the most recent American election I saw at least three news stories on television about campaign sign thieves being tracked down through the use of AirTags put in one of the signs. To my surprise, in each case the police were right there, and in two of the cases, the signs were still loaded in the thieves' cars. So it does seem to work.
Anyway, you're really swimming upstream trying to think of aigtags as an antitheft device.
They aren't anti-theft devices as in padlocks. But the more often that thieves start wondering if the thing they're taking might have an AirTag in it, they might start reconsidering some of the petty thefts.
It's like a surveillance camera. A camera, itself, can't stop a crime. But the possibility that someone's watching can act as a mild deterrent.