Earlier quoted context omitted.
Not everyone lives in an area where that is true, nor can everyone just afford to replace $20 helmets on a regular basis. Compulsory helmets just for cyclists is a bit arbitrary too, since pedestrians and car occupants would also benefit from helmets, and at least pedestrians are likely to encounter the same exact crash scenarios which cyclists encounter where helmets are necessary (e.g. pedestrians can also get hit…
I realize I'm privileged in that I live in a low-crime city, but seriously, who is going to steal a $20 helmet which will have a broken strap? It looks like new straps cost ~$8 on Amazon, so the helmet is worth at most $12. Which isn't nothing, but... unless you happen to need a helmet and the helmet just so happens to be the right size for your body, you'd need to sell it, and no one is going to pay full price for a…
I've been in areas with large drug problems, and people steal weird things (and avoid stealing less weird things) all the time.
Also, generally speaking the more valuable things are the riskier they are. It's a lot easier to pawn some random bike helmet, but bikes have registration numbers, and you may need to enlist the help of a chop shop that's in on what you're doing.