Rather not go back to the “fun” old days.
Thanks to the miracle of what is now called "Find My," I got to watch as my wife's newly stolen iPhone made its way from Rome to Tunisia. Unfortunately, in its early iterations, you could only locate an item, not take any action on that item.
I suspect that wouldn't happen today, since I could now remotely lock the phone.
edit: and of course, "Mark as lost" is a separate thing from iCloud locking. That's the difference.
There was a missed opportunity here to call it scrumping
"To steal fruit, especially apples" - https://en.wiktionary.org/wiki/scrump
Second Apple should provide a way to verify if a phone is locked to allow people who purchase phones on eBay to not get f'd. I see no reason for Apple not to provide this service again.
Third, apple should to take back all phones that are marked as stolen and recycle, refurbish or whatever without compensating the person who brought it in.
I do agree that e-waste can be a problem, but unlocking the iPhone seems trivially easy, and as noted in this article, the real problem is that when devices you own break, they might become very expensive paperweights (aka e-waste) as repairing them might cost more than the device is currently worth.
And I believe Apple already has a program where they can recycle an iPhone back to spare parts without compensation as you describe.