AirTags Use Cases?

I do not know you Race Bike, but the models I know have normally very few places to really hide an AirTag. So I bet you have a holder on your Frame for it, or placed it under your saddle?
A theft will know those places, remove the AirTag before he takes your bike, and the signal shows you your bike is still there.
I wouldn’t rely on that, as a lot of Insurance companies I know have rules that require the Insured person to take certain common actions to protect the stolen item, and looking frequently for it in person, instead of relying onto a signal from an AirTag might be fallen under this.
So in worst case, your insurance could be shortened, or be lost in total in worst case.
I would have a look for this in the contract.

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