Home improvement stores have a LOT of theft, especially in some cities. People try to walk out with power tools and expensive gear all the time.
They aren’t going to do all that if it’s a relatively small value theft. And the big value stuff is usually locked down.
And if it’s for their own protection why be part of a bigger network shared with law enforcement for whatever they (LEO) wants?
It is the job of the police to investigate thefts. Therefore it kind of makes sense why they might want to put up cameras in high crime areas. We just don't want the cameras to be abused. I don't want to be tracked and have the contents of my house itemized by systems like this. Is there a less intrusive way to prevent crime, perhaps by posting a security guard? I think so. But what does it cost, and would you rather pay for that or deal with the camera?
Have you not seen the stores like Walgreens that have very basic toiletries behind glass? This stuff is very location dependent and some cities (most?) are still normal. Many stores including Target and Walmart are using AI to track shoplifters. They have had to resort to adding up thefts over time until it totals over $1000 or something, because theft is so pervasive. That's not the kind of theft you need outside cameras for, but these stores see it all.