My mate recovered his with his Monimoto so clearly they work and it wasn't a waste of money.
A Monimoto is neither a Tracker nor a BikeTrac system is it? My point which has obviously gone soaring over your head is that Trackers for example have limited places where they can be installed and dealers tend to install them in exactly the same place time after time and the thieves know this and rely on this. We would routinely find Trackers ripped out of Transit vans and discarded at the roadside often within literally minutes of the vehicle having been stolen because fitters used to put them in the exact same place every time, that being under the dashboard on the near side of the van. Thieves would simply smash that side of the dashboard and then rip out the Tracker and chuck it out of the window before disappearing into the night.
In contrast I have an AirTag secreted on my Husqvarna FE350 which would be difficult to find and equally difficult to remove. I’m under no illusion that it would not outsmart a seasoned bike thief but hopefully it would buy me some time to track the bike and pass that information onto the Police who in fairness would probably not even bother turning out but hey, it gives me a sense of reassurance even if it’s misguided.