Multiple things can be true at once. This guy can be a huge asshole who potentially put innocent Black and brown lives in danger (not just the life of the actual thief), AND this incident illustrates that the police don’t necessarily prevent crime, especially property crime, whatever their unions might claim.
The chances that other thieves got away with stolen property that would otherwise have been returned to its rightful owner because cops were pulled off their beat for this chase are, I suspect, rather small. More likely some other Black and brown people who otherwise would have been needlessly harassed instead got home or to work without being interrupted.