Is the risk of someone using a pipe cutter really that high? Seems like if someone is that dedicated they are getting your bike anyway.
https://www.screwfix.com/p/irwin-record-handicutter-15-45mm-...
They're much cheaper than an angle grinder, and fit in your pocket. I've used one to cut through the barrel of a d-lock with ease. I don't buy d-locks with cylindrical barrels any more. I learned this trick when thieves stole my friends bike this way :-(
I'm sure if you were a regular bike thief they could pay for themselves in no time.
I live in the kind of city that most of HN would sneer at and make some quip about it being a rusting post-industrial wasteland of poverty. I guess we're not very enlightened but my Amazon packages don't go missing from my doorstep so I don't complain.