Apple aspires to a future where there's no point stealing an unattended iPhone, because it'll have an unbypassable lock for sure, and hence zero stolen goods value.
My n=1 experience with people stealing phones is that they couldn't care less whether it was locked or not. I presume worst case it is sold for parts.
iPhones have a feature called activation lock. You can't wipe them without the previous owner's AppleID.
A passcode or touchID is needed to make a payment with Apple Pay, irrespective of whether or not your phone is unlocked.
> Why are the 2 related? I'd like to use ApplePay without TouchID or a PIN.
Apple aspires to a future where there's no point stealing an unattended iPhone, because it'll have an unbypassable lock for sure, and hence zero stolen goods value.