"Locks are for honest people".
Physical security is all about deterrence, time, and inconvenience.
Detering crimes of opportunity. "hey, look at that snazzy new Mac Studio, I think I will take that". Not everyone carries wire cutters around.
Keeping something secure with sufficient time for someone responsible to respond. Along the lines of a safe or a home alarm system. IE, I have a safe in my basement. It would take someone probably about 4 hours to break into it without the help of the best safe cracking tools like a torch or a plasma cutter. Plus, after you got in my house, the alarm would be going off and the local cops are on the way. Hey, if what's in MY safe is worth that much effort, I got bad news for you. It's insured and your efforts were best spent elsewhere.
Inconvenience. Making it a pain in the but to swipe something. Keeping it locked (like with something like this) and being able to use Apple's "find my" tools to remote wipe or lock the device if stolen makes it less likely to be stolen.
The final unmentioned leg of all of this is GOOD INSURANCE. I try and tell people this, and a lot of time they don't listen. Anything of value can be stolen. Even if the thief is caught and prosecuted your chances of getting restitution is literally zero MINUS zero. You're not getting restitution. I deal with the back end of this as part of my career and I'm letting you all know you should never expect to get restitution in a theft case against a natural person.
So if you have good insurance, either through your homeowner's /renter's insurance, your credit card, or other insurance all you're ever out is your deductible. An amount you can budget for and control. Let the insurance company go after the restitution.
I can't emphasize this enough when it comes to theft cases. You should expect you will never be made "whole" by the legal system. This is what insurance is for.
Sorry for the long form post.