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Yeah, that's what I was afraid of. I have the hope the frame itself may be used as antenna.

Contrary to what the other commenter said, this is not attractive for carbon frame owners as I wasn't thinking GPS tracking, but low power, snitching networks (like Apple's stuff, where the stolen iPhone only needs to be seen by another iPhone; or like corona tracking). How often do you see a carbon bikes in the wild? A frame like that may also have other components worth destroying the frame over.

Yes, you'd need to handle the antenna issue. As far as engineering problems go though that's not a particularly hard challenge. Phones and laptops with metal cases have no problem with this despite a lack of external antennas.

Are you sure?

Bicycle frames have to be a lot stronger than phones and laptops. That means greater wall thickness (I think ½ mm is on the lower side for steel bicycle tubing)

Bikes expensive enough to have a tracking device will largely be carbon fiber.