Doesn't mention what version, but even with Bluetooth 5.0 the maximum range would be around 400 m/1.000 ft under ideal circumstances.
So the tracking would only work if you actively pursued the target to stay in range.
Probably much more practical to go for an actual GPS-tracker, magnetic versions of those can be bought on Amazon for like 50 bucks.
If you lose a tracked device, you can see its location if a random person’s Internet-enabled iDevice hears any of its chirps. The stranger’s device doing the relaying is unable to decrypt the contents; it just forwards the data to Apple.
Why should I spent my data cost to send beacons for someone else?
I hope it can be disabled.
I guess I could monitor my Bluetooth status more often, but the Control Center toggle (intentionally) doesn’t turn it off entirely...
If your data caps are THAT tight, you might consider a different provider.