Pretty common in big cities. That's why everyone in Amsterdam rides cheap old omafietsen ("granny bikes") with huge locks that often cost more than the bike itself.
Not so bigi would say. Lived ~3 years in Amsterdam with an average bike always loosely locked in the street and it has never been stolen.
But to be honest, poverty in NL is also a problem that's been managed quite well ; which does not mean there is no crime (I've had 3 burglary attempts) but maybe crimes that paya bit more than stealing average bikes in the street.
I personally had 4 bikes stolen in 5 years.