> Even if that wasn't the case, as long as there were at least a few decently-sized countries not plugged into the system, that's where the thieves would sell all their devices.

It still limits the market where they can be sold, because even there the customer doesn't actually want a stolen device. What if that country starts blocking them, or they want to travel anywhere that does? They could even get arrested.

It also requires the thieves to have a network to transport them there, vs. individual petty thieves who would otherwise be selling them locally.

> Stolen Apple devices are still usable for parts (which is why parts pairing is not always a bad thing)

Parts pairing is still a scam. They could check the part against a stolen device list without refusing to pair with parts from third party OEMs or first party non-stolen parts from other regional markets.

> Stolen Imeis aren't always exchanged between carriers, much less internationally.

Yes these often end up in Eastern Europe where the carriers don't really care about that stuff. And most people can't pay full price for top end phones so there's much more market for this stuff.

Even on legit corporations with tens of thousands of iPhones, Apple still gives you a lot of hassle if you want to get one unlocked. Just so this won't be used as a loophole.

> and you can sometimes phish the Apple ID credentials from the victim, which is why stealing those devices is still profitable enough.

Yep, I always see "is this text legit?" posts with clear phishing URLs in iOS help groups on Facebook, posted by people who had their iPhones stolen and think it's Apple Support attempting to get it back.