1. It tells me who is at the door when I'm home and lets me see their face. If it's a good friend I can just tell them to let themselves in, if it's a marketer I can ignore it, etc. This is somewhat just convenience compared to a peephole.
2. It tells me who is at the door when I'm not home. I can let me friends know to come back, if it's a neighbor I can let them know I'll catch up with them later, etc.
3. It lets me keep an eye on packages when I'm traveling. I can ask whoever is house sitting to swing by if there's a buildup of them (which in turn hides that I'm away).
4. It lets me confirm that my pet sitter is indeed swinging by. Sure they could text me every time, but it's easy for people to forget that and it's a hassle for the sitter.
5. When things go wrong, it helps me identify the culprits and circulate those pictures. That may not do much in all circumstances, but at the very least it lets me pass on useful information to my neighbors.
Some premeditated crimes (e.g. first-degree murder, bribery) can be deterred by threat of punishment, but when people are making the snap-decision to commit a crime of opportunity, they aren't carefully weighing the risk vs reward.
If your point is that people (at least those who aren't scientists or statisticians) round small probabilities to zero, then I agree, and it's something that I think people need to be more aware of when considering deterrence or other behavior. However, I don't think you or the article made this point clearly. The article would be so much shorter and simpler if it was condensed down to that one observation.
It's quite reasonable to say that punishment only has an effect when it is clearly linked to an action, but that sounds like a completely different message than saying punishment doesn't work (implicitly assuming it almost never occurs).
It still has death sentences and the dubious record of an incarceration rate higher than any other country.
There's a particular rock in the Atlantic off the coast of Europe and East or Ireland that's been carpet bombed with CCTV cameras. Ask anyone who lives there and they'll tell you that they're still waiting for the reduction of petty crime the cameras were supposed to bring. There always seems to be plenty of money to fund more cameras and more surveillance but never any money to fund the Good Old Fashioned Police Work(TM) needed to follow up on all the crime those cameras see.
Again, it's a tool in the tool box, necessary but perhaps not sufficient.
And if your goal is to actually prevent theft, you wouldn't even need to turn it on. It's the same issue as home security systems: they run all those goofy ads about a crook sitting in your bathtub because there's almost no real use-case. As a deterrent, an ADT sticker provides all the benefits of a security system for about $2. As a reaction, all it does is tell you that someone has stole your electronics and jewelry. It won't get recovered, the crook won't get ID'd if they wore a mask, probably won't get caught even if they didn't, you'll just be notified a bit sooner.
I'm not going to condemn people for getting these products, but only because I think they've been badly and systematically mislead. Products like Ring are sold on the back of an entire narrative of crime, deterrence, and punishment that has essentially no bearing on reality. Crimes against person and property are one of very few issues where I've seen people completely change their position just by seeing accurate data.
Get one of those outdoors camera covers, and fix somewhere people can easily see. Don't bother with an actual camera.
There is a simple test for when a camera is useful: if you saw something happening on the camera, will you do anything differently? A camera that watches some hidden corner near your front door that lets you decide not to go in there right now can be useful (but then, getting rid of the corner is much better).
But obviously it's a new revenue stream with myriad additional business opportunities for Amazon to capitalize on the paranoia of its customers WRT having their packages stolen, to sell surveillance products to them (and access to law enforcement, ad/marketing interests, etc.).
I had several packages delivered which were "signed" for by someone named "through the letterbox". Similarly, one package said dropped off at the door/porch but no sign of it so I asked for a refund as I assumed it's been stolen... 2 days later my neighbour gives it to me because it was actually delivered to them, but the delivery person couldn't select the proper option to let me know so I had no idea.
Ring, and CCTV in general doesn't prevent or even deter crimes nor did it save anyone. The irony with how useless a Ring camera is, is illustrated in all those Amazon package thefts ring captures but didn't stop. The only useful thing is being able to prove to Amazon your package was stolen. A pointless system of waste for lazy people. Boon for the surveillance state.