A camera is potentially a deterrent to opportunistic theft, if the thief notices it and believes they could be recorded. I have a camera that covers our gate and front yard; it's not charged a lot of the time, but I leave it there anyway.

On the positive, my neighbour has a sensor camera and let us know one of our dogs was out wandering in front of his house. No idea when or how he got out the gate so we had no idea he was missing.