"Wheel locks are a joke". In today's social environment, I agree. But it wasn't always that way.
The vast majority of wheel locks sold in North America are manufactured by McGard. The even make OEM locks for the major makers and for other distributors, who get their products from McGard re-packaged and given the clients requested markings.
One of the services provided by McGard that's not well known is making master key sets available to first responders and licensed recovery vehicle operators. Because of this, yes, some people can remove a wheel lock (and subsequently a wheel/tire) when necessary with/without the owners permission or knowledge, as in cases of public safety, rescue operations, damaged vehicle removal, and in many cases, drug intervention.
But unfortunately, some unscrupulous operators allow master key sets to be used/taken by others, sell key sets, and otherwise make master keys available. Then there are the "Offshore made" keys sold through almost anyone who wants to retail them, like Amazon. Because of this, almost all benefits previously realized by having/using wheel locks have been nullified.
So now the question is, is it worthwhile to have wheel locks ? I still say yes, because it still offers a deterrent, and if nothing else, may slow-down or prevent theft.