My PC has a built in security chip, he wouldn't be able to access the bios or the hard drive without the password. I'd probably never see my pc again if it got stolen
That's pretty much guaranteed. The general idea of that sort of security is to deter theft, as the thief would know that they couldn't use the machine. And even that assumes that they have time to inspect it carefully first?

The flaw is that most casual thieves don't know anything about computers anyway. By the time they discover that it is unusable, it is way too late. They will either toss it, or break it for parts that they can sell.

Alternatively they are more professional thieves who have an outlet who will just re-chip it.