I will be starting a new placement for my MSW graduate program in a higher than normal crime rate part of the city (opportunistic crime). The bike would have to be locked out on the street everyday for three months. My typical three Kryptonite U locks, Pit locks for wheels and seatpost and Brooks chained to the frame just isn't going to cut it and I don't want to try and lock up each component with ball bearings and glue etc. I would need to protect my stem, shifters, front and rear racks, derailleurs, dynamo light . . . not going to happen.
I will have to use the next best thing and that is my Brompton. This way I can bring it in my office and not worry if my bike is getting stripped outside.
In extreme cases folding bikes can be the answer for some people.
Like the OP I cringe when I see a cable lock on a bike. That is just an opportunity.