Airtag pinging a location that may not even be accurate is not a reasonable cause for search nor even enough information to know where to search in some cases. Imagine the airtag says it is in an apartment complex. Which of the hundreds of units in that building do you decide to barge through and search? All you have is a 2d map and 35ft resolution on a good day.

Yes, but it should be enough if the victim of the theft was able to walk into the store and see his bike there.

If you ever have something stolen, ask the cops how much time and effort they’ll dedicate to finding the stolen goods. They do not care.

It's not enough for a search but it's enough to knock on the door and ask.

How do you expect this to work out? "Hey did you steal my phone?" Again if its a multistory building you aren't finding the correct door.