I don't see how phone theft/loss is any kind of issue that warrants District Attorneys, governments, and phone manufacturers to somehow deter it.
1)Don't lose your phone
2)Smartphones are all software...regardless of how one "secures it", a true thief will know this and either he/she or the "black market" will easily unlock it. Period.
3)Laptops have been lost/stolen for decades and you don't see Apple/Wintel working to prevent that. What about iPods, cd-walkmans, watches, handbags, etc? Again, don't lose your stuff and/or leave it around where it has a fair chance of being stolen.
4)If your phone gets lost or stolen, big deal...you call your Carrier, they assure you won't be billed to data/calls it makes, you plunk down $$$ for another phone, and you move on. Sure, you may have lost your pictures or possibly opened up your email to a thief...but a)go change your password(s) on your email system super ASAP and b)life's tough...so you lost some pictures.
5)How about this scenario: You buy a used phone on eBay or from a friend and days later the seller reports the phone stolen just to be a jerk.
6)I understand that smartphones are relatively small so they fit in pockets...and could be misplaced or pick-pocketed or even just fall out due to their size...but so are wallets, jewelry, and cash. Again, don't lose the phone just like you try hard not to lose your wallet, jewelry, and cash.
This topic has been talked about for over a year and it always is made to sound like a band of criminals is following you down the street waiting to knock you unconscious and steal your phone. Not in the USA...and not in most civilized countries.