I don't believe so, or at least where I am from. This 'only' provides additional protection against cases where thieves know your device passcode. I've had my phone stolen from me twice where they couldn't have known my passcode and couldn't remove it from Find My, and it was never seen again.
The other issue could probably be resolved with more aggressive part ID checking. iPhones should just refuse to function if they have a part from a stolen phone.
At the end of the day, you still don't have the phone whether the thief profits from it or not. All this will do is prevent criminals up to date with this info to not try to resell it. It does not prevent them from taking/destroying it.
It's an attempt to resolve the fairly widespread iPhone / iCloud social engineering takeover attacks that were documented in great detail by Joanna Stern last year:
https://www.wsj.com/articles/apple-iphone-security-theft-pas...
https://www.wsj.com/video/series/joanna-stern-personal-techn...
Once a thief has stolen his 10th iPhone that he can't do anything with, he'll probably be less likely to bother stealing iPhones. If anything it's a liability since it can be tracked as long as it still has some battery.
Theft isn't just for the whole device, it's also for parts. By making the part market so difficult they essentially create a black market for it in third world countries where just the phone's battery could be worth a day's wages.
A day's wage in Colombia is about $10-15 and people tend to preference and pay more for original parts since the cost of the device is too high to risk. An iPhone X costs close to a month's salary. They even tend to avoid third party cables or chargers as a consequence.
For phones which are in a case/cover, inside bags etc., it seems almost impossible so am unsure that this is an effective deterrent.
If you think in the systems of how criminals work, they tend to spend more time stealing things they think will pay off. Taking something that will cost them time and not gain them money will over time bias thieves to not taking iphones.
For example it may prevent this
a) iphone is left on a table in the open.
but would not prevent
b) iphone is in a bag, bag gets stolen.
What prevents "I stole your phone just to cause chaos" is the risk/reward profile. Even though your phone is useless to someone that stole it, it's still theft, and you'll still have to face consequences if caught. If the incentive is "I'll be able to buy $1200 worth of shit", then people are probably going to take their chances with getting caught. If it's "I'll get nothing except the satisfaction of smashing someone else's electronics", then most people won't take their chances.
With the whole "knowing your passcode doesn't help" situation, it makes the long tail crimes even more difficult. "Tell me your passcode or I'll shoot you" no longer works, for example. It makes the crime significantly more difficult to commit, and requires committing crimes that carry significantly longer sentences. (Armed robbery turns into kidnapping. You could be looking at the rest of your life in prison for $300 in someone's checking account. Not worth it to most people.)
At the end of the day, there is only so much you can do. The rest is your insurance company's problem. The fewer viable attacks there are against you, and the less often they happen, the less your premiums are. (I actually don't know if there is insurance for this. I should check.)
They just got themselves an unlocked phone.
I assume this protects, somewhat, against this by the fact that were the thieves to try and change anything, there's another step of verification necessary than there was before.
And I think it was very clever of Apple to leverage the device location as an ad hoc "2FA". "Something you know, some place you are."
With that said, this will definitely make it more difficult and less profitable per unit of effort.
Edit: @google234123 +1 to that!
I care a lot about some low life scumbag not profiting from it. Anything that discourages theft is great.