I'm convinced that the solution to crime is not to increase punishments, but to make the speed and likelihood of being punished fast and almost certain.
If theft had a 100% detection rate and a punishment greater than the value of the item, you would never steal anything because it would be pointless. The problem is we let people get away with it multiple times and then eventually destroy their lives over it.
Airtags and other anti theft tech can help here. Make theft extremely difficult to get away with and people will not bother.