Indeed. Though to be fair, having a bike is so much cheaper than a car that even if it did get stolen it'd still be cheaper to replace it than run a car.
Having a bicycle stolen is actually a frequentl reason people stop cycling. Getting a new bike sucks.
A year of public transit in my city costs $1200, which is commensurate with the most I've spent on a commuter bike. I've had 7 bikes stolen in a quarter century of commuting, and I feel like I'm getting a pretty great deal when it comes to transport costs.