Really, you don't see the deterrent?
Somebody puts a Teric up for sale on this forum who's going to buy it with a Name and Telephone number embedded in it that cannot be removed?
Sell it on eBay and it becomes a Police matter if the Buyer reports that he just got sold some stolen merchandise.
You do understand that if someone finds your Teric and clears the Name and Tel number for all intents and purposes it's considered his good fortune and your loss, but if it has the owners information is in it then it becomes a matter for the police.
Even if I kept a stolen Teric for myself it would be useless to me if I was always nervous about switching it into dive mode on the boat while also having to look over my shoulder every time I did it. Also your not taking into account that once this kind of anti theft feature becomes widely known about other divers will get suspicious when they see a diver acting nervously when asked about their Teric or worst if asked if they can see what the Dive screen looks like and get a flat out No in response.
Yes it would be nice if the world worked that way but it has become very clear over the last three decades that this kind of behavior is very rare when the value of the item found is high.
I still don't think its that much of a deterrant. Sure some avenues for selling are gone, but still easy to sell stolen goods.
Honestly, when I'm on a boat, I'm only focused on my own kit and my buddies. If you ask to see my screen, I will reply in a not very polite fashion as you are distracting me from my preparation. Ask me when I'm finished to see my screen, I still won't be polite. I don't see a thief getting all that nervous really. In this corner of the country, Shearwaters are EXTREMELY popular, but when I travel, not many people have two on their arm, I give you that.
I don't think human nature has changed much in the past 3 decades, but I'm only 50. I do realize that the velocity of information exchange is far greater than in the past, and that does effect people's perception
So since you are a hardware designer, question for you. Where will you store the password? Or I should say, the hash of it? How robust is the hashing algorithm? It has been a while since I worked on Bitlocker (oh God, 14 years?!??!), so I haven't kept up to date on software security, but that was when SHA1 was abandoned due to weaknesses, and they switched to SHA256. What level of effort do you expect from Shearwater to ensure that what they implement isn't easily hacked? All of this isn't free, and is not likely in demand from enough of their customer base to warrant this investment. Just to be clear I am NOT a software security expert.
So now that I think about the possible security implications, I'm thinking there is even less reason. I could ping a couple of security architects, like Paul England or David Wooten and ask them on FB. Maybe I'm wrong at it is easy with few resources and can easily be secure. I'll wait as I should be augmenting the firmware for another dive computer on the market, so I know more of what I'm talking about. I've worked on a few STM32 projects, bare metal and RTOS. Not sure what hardware Shearwaters have inside.