Everyone’s missing the fact that the thieves unlocked the phone. This means they can change settings like logging out of the Google account or turning off remote wipe. A thief that sophisticated will turn the phone off right after stealing it.
The solution here is to have strong unlock security.
@Binary
If they wanted the data badly enough, they could probably download whatever they can before installing a new OS. They would then work on the data with a separate device while reselling the phone.
If your phone gets stolen, just Google ‘Find My Device.’ Log into your Google account (the same one on your Android), and it will show where your device is if location is turned on. You can play sound, lock it, and even factory reset it from your laptop.
For iPhones, there’s ‘Find My iPhone,’ but I haven’t used one in over a decade. Hope this helps