The Tile has a very limited range. Something like 50' or so. Most people can see/spot there vehicle within that distance. They have the capability to network with other Tile users, which is nice, but you have to rely on other Tile users to be in the area where your missing vehicle is.
I have no firsthand experience with it, but I've heard of people activating cheap smartphones on their cell provider, and using it as a "locate my phone" type tracker. All you have to do is hardwire the phone/charging cable to the bike, hide it, and activate the GPS locator on the phone. A determined thief would eventually find it, but then they'd find the Tile as well. It'd catch the "joyriders" though.