Earlier quoted context omitted.
Even if it prevents reselling the phone, it doesn't prevent the phone from being stolen. It would be a dumb criminal to leave you your phone to allow you to immediately call the police if you've been mugged. Just take the phone, trash it literally placing it in a bin or destroying it or both. At the end of the day, you still don't have the phone whether the thief profits from it or not. All this will do is prevent cr…
The point of it is to protect your data, not the phone itself.
They just got themselves an unlocked phone.
I assume this protects, somewhat, against this by the fact that were the thieves to try and change anything, there's another step of verification necessary than there was before.
And I think it was very clever of Apple to leverage the device location as an ad hoc "2FA". "Something you know, some place you are."