Why is it not remotely worth considering? Is it possible that, even remotely, it is worth considering?
As for why, millennia of much-harsher-than-caning attempts to deter crime have long-term failed to do so while there is still a strong incentive to that crime, and the only (brief) moments in which any of them have apparently worked was, coincidentally, one in which said crime was dis-incentivized.
But, you know, go ahead and keep trying the same stupid thing over and over and expecting different results.