Completely agree. My point was that if you get your phone stolen, it's pretty much guaranteed to be a random thief who just picked it up and doesn't care about

Completely agree. My point was that if you get your phone stolen, it's pretty much guaranteed to be a random thief who just picked it up and doesn't care about your data, so the security method makes no difference. If you actually want true security, though, TouchID is no better than (and arguably worse than) a passcode against someone who is actually after your data.