You are absolutely right, no one walks around in the woods with bolt cutters or saws, BUT they darn sure might be packing them a week later when they return. Give some weekender a week to think and plan, and your camera is GONE.
Lets say Grizzly works cheap, and he builds me a lock box for $30 including shipping. Then I buy a case hardened bolt cutter-proof lock for $20. I still need chain and cable or lag bolts. Have you ever twisted a 3/8" lag bolt into with a ratchet. I guess you better make sure your lag bolts are not made in China. Lets say I get every thing for $60. I have six cameras now. Do I have to buy this stuff six times, that is $360. I can build three cameras for that. Have you seen the radical prybars and crowbars they make these days. Give me a week to think and plan, and I will top Nicholas Cage. Your camera will be gone in 30 seconds.
I protect my cameras with my brain, and in five years, I have never lost one.
Bob