> Unless you're securing State Secrets or occupy rarefied enough heights that you have a Swiss bank account I don't really see anyone bothering.

You're vastly underestimating how valuable access to a person's phone can be. It's not just about quickly wiring money or stealing state secrets but also about building blocks for social engineering campaigns, ad/app fraud, extorsion and all sorts of different things.

And the petty thief who steals your phone doesn't need to have the tools to spoof the biometrics. There just needs to be some criminal organization that does and that's willing to pay petty thieves for stolen phones.