I'm not sure about the Dyneema chain for a bike, but I can envision Dyneema fiber or other mesh material being used to secure a bike or other items. This type of material might be cut resistant to bolt cutters where it might flatten but not cut cleanly; and could be made to snag and bind up an angle grinder, like carpet fibers wrapping around a vacuum cleaner beater brush. Such a material might also be lighter in weight, and much more flexible and adaptable to securing in odd places.