I don't think I've had a checked bag permanently lost since the '90s, though it seems like half the time I return to my home airport with ski equipment, they fail to send it out to baggage claim. But then they deliver it to my house a day or two later.
I’ve taken my recumbent tricycle overseas five times now, and gone overseas without it on a number of other occasions, and I’ve never had a bag misplaced; I know my parents did once (I think it was delivered a couple of days later). In fact, losing my trike even for a short time would be extremely inconvenient, because I’m normally intending to cycle out of the airport and, if it’s not when I’m heading home, probably don’t even have an address they can reliably send things to, because I’m keeping on moving.
Interesting! Why would the airline incur additional cost of shipping your ski equipment to your house, when putting it out to the baggage claim is... free?
Because they make a mistake. They obviously don't intend for that to happen.