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The question of whether someone buys as deterrent or evidence collection is individual. Both have some value. Deterrence is actually a much more important part of why one might want cameras, as it puts up signs for experienced thieves that the next place over might be a safer target, and can discourage crimes of opportunity from less organized individuals because people behave differently when they know a camera is watching.

For evidence collection, value is really determined by your enforcement limits and desired goals. If you can't get your local police to take an active interest in the case or go vigilante yourself, the money you spent on cameras won't mean anything. If your system doesn't get usable identifying characteristics, it's useless. And the dark truth of the matter is that evidence means nothing if your goal is safety. If your goal is to be safer, what use is evidence, at any quality? It's great on insurance forms if you have insurance but won't replace your family's physical or mental well being.

Evidentiary value is rarely zero, but people should be aware of what that value is when considering their options.