Such police actions were common in the city that I lived in NL. There would normally be quite high profile mention on the local news as well.
It was still possible though to approach some "likely characters" at the train station and point to the bike you wanted, hand over some € and have it delivered to you around the corner a little later. Cycle-parking was later upgraded so that it was off-street and needed either a bike or ticket to enter.
Mind you, I would also be subject to regular light checks in winter on a popular bike path and there were random, focused checkpoints for light bikes on weekend nights in the centre. Also, the council did regular "sweeps" with a flatbed truck and removed any and all bikes illegally locked in places. Since I left, they now have fines for using a mobile phone while cycling.
The problem with that idea is that if you took police officers off other duties to look for stolen bikes. The other sections of the community would be up in arms asking why they are not dealing with, murders, burglary, shop lifying, etc, etc, etc. They are in a no win situation
There would be a regular focus on "X" offences at different times, random and unpredictable. Drink driving, drugs, bikes, all done. In truth, for minor crimes - such as bike theft - there was little investigation just more of a focus on providing the paperwork for an insurance claim. I was very surprised once when it seemed there was a glut of fake €s in the city and there seemed to be little appetite from the Police or banks to investigate - just claim on the insurance.