The counter-argument to that, of course, is that it's just as easy to pick the lock on the front door of your house or apartment, and that's got much more expensive stuff in it than your bike. Why do those standards not apply there?
In reality, it's almost impossible to get a security option that's reasonably priced and convenient to carry around, and the point of a cheap lock is to provide some deterrence, as most thieves will move on to look for unlocked bikes rather than risking the time it would take to cut through or otherwise disable a cheap lock.
But everyone's priorities are different.
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