It would be much better if instead of locking everyone out of the device, it instead gets wiped after some conditions are met. This way your data isn’t compromised and the device can be used by other parties.
There are plenty of cases where the device isn’t stolen this affects, such as someone dying, or an employee not removing their Apple ID when handing back in work equipment.
Apple gains by having the device become unusable, as it is taken out of circulation.
I build you a house with very solid walls and doors. No one is getting in without the keys. I do not give you the keys. You have to ask me to let you in every time, and I decide if you're you and should be allowed in.
It is a true statement that the house is secure from theives.
It is not a true statement that you can't have the keys to your house because "security".
Most of the parts are computer systems in their own right. The last thing you want is them to get replaced with "compromised" versions.