The AirTag will beep if it's been separated from its owner for long enough, so presumably the thief would be able to find it relatively quickly once that happens.
It is easy to disable the beep. I did it to one in about 5 minutes with basically an exacto knife.
Oh, interesting. So it disables entirely (i.e., it's only good as a theft detection device now)?
Its only real use, I think, is to find something that's been lost. They report their presence to all iPhones - including that of a thief. They do that to protect against use by stalkers.
Its still useful for its original purpose - especially if your phone has the UWB stuff so you can play the "warmer, warmer" game. Just one less trick up its sleeve.