My $0.02...
$0.01 : What I have is largely the result of trading a portion of my life for those things. I work (for pay) to acquire things, not out of sheer joy of the work (though that helps). Take something from me, and the time I spent to acquire it is lost forever. While not justification for a terminal response to theft, it does clarify the gravity of the crime, and may excuse, if not justify, the response.
$0.01 : The thief knowingly risks his own life in the taking, and all too often threatens the owner's in the process. Seems he thinks it's worth a life, or at least risk thereto. The initiator is the one who escalated the situation, and continues escalation until he succeeds, expires, or the owner heads toward room temperature.
$0.00 (freebie) : The state seems to think so, as when charges are filed against the thief, the state is willing to escalate to terminal consequences to mete out the punishment.
...funny, for everyone involved in the situation, it seems I'm the one least interested in taking the situation that far.