These examples aren't exactly the same as the wheel nut example, especially the password example, but the door locking one is somewhat similar.Make sense. We shouldn't lock our car doors, use door locks at home, and shouldn't password protect our sensitive information also for easy access for amateur and pro thiefs.. The same determined thief can also gain access to those things with around the same amount of effort of stealing rims.
A big potential issue with the locking wheel nuts is if the key is lost or misplaced. I've had locking nuts before and felt the anxiety of the key not being exactly where I thought it was but thankfully I found it. We tend to use a car key and house key on a very frequent basis so usually are no more than a couple of days, or even hours from the last use and can find them easily. With a locking nut it can be many months since it was last used. If a mechanic does work with the wheels one needs to be extra careful to get the key back from them because they can easily be missing after getting the car back.
I don't bother with wheel locks anymore and haven't in decades and haven't had an issue and I always park the MDX and prior SUVs outside (in a driveway - not on the street) since I reserve the garage for other cars. I know it's too easy for thieves to remove the locking nuts - especially when they set out specifically to steal wheels.
The main thing is to have theft insurance. There likely would be some deductible but the loss would be lessened.
If I lived in a setting where I had to park the vehicle on the street and especially if my vehicle was nicer than most of the rest of the vehicles parked there I'd likely consider using the wheel locks as at least a bit of effort to avoid the theft.
Another theft deterrent if parking outside overnight is to use a car cover. While anyone can easily remove it, the cover just adds some hassle and makes the thieves that much more noticeable and makes it a little harder to scope out the vehicle beforehand.