As far as theft goes, people will steal anything - its just that the pawn shop won't give em as much for a Squier logo'd bass. But $50 is still a free $50 and will buy stuff. Pawn shop would sell for $150-200. Then someone one day may or may not discover its actually not a Squier.
As far as gear snobs go - man, it's more a hassle to play a Squier live. People might love your tone and then talk to you and if you wont tell them what it is, or say Squier, they might snub you afterwards. I aim for middle of the road explanations "its a Fender" and if pushed "the Classic series" or "Japan" or "USA" if asked (depends which I brought).
I don't see much reason to change the logo on any bass. That said, I might add a logo to a Fender design if its Warmoth parts - though I have 5 Warmoth instruments and only one with a Fender logo, and I bought it that way. Heck, I put a Warmoth neck on a Fender guitar - everything else Fender - and still has no logo.
So, carrots? I dunno. I love to talk about my gear, not to be a gear snob but bc I like the stuff I own - be it cheap or high end. I like it for a reason.