The main issue isn't that cameras are expensive, it is that monitoring that many cameras is expensive/impractical, and automated theft detection systems are still in their infancy. So they just target high value/common areas, and rely on deterrents (like people believing they have a lot of cameras, off-duty cops at the door, and PR around some super secret new technology).
Quite seriously: Stores really need to look into vending machines for certain items. In particular with how advanced Gift Card Theft-Clone-Return Activation fraud is. Thieves have message-boards not dissimilar to this where they can share "pro-tips," and things have become quite sophisticated.