Yes, and once the word goes out that your ride is missing, friends and acquaintances can keep an eye peeled on Craig's List and in the LBS and pawn shops... which means it's only really good for a quick fifty bucks from someone the thief knows, same as a simple BSO. Not worth the work of attacking a decent lock setup - If it requires a lot of work to re-generic the bike to sell, a pro thief will skip it, unless it's real pricey stuff.