On that note, even if someone stole your car, at least your car does not have access to your bank account, your passwords, your messages, and even your sexual history. The personal and reputational cost of losing a car is not comparable.
Many people would actually probably prefer their car to be stolen than the contents of their phone be public.
I think a more accurate comparison would be to an electrician. In Australia, doing your own electrical work is a crime even for the homeowner, because it can cause physical death, and is too likely to be done wrong. Yes, you will possibly go to jail for replacing $2 light switches. I assure you that most people’s phones have things they would prefer physical death over being publicly distributed.