I like it. This balances the crime system out, in Skyrim there are 9 holds so it's a bit easier to get away with murder, also there are supposedly no psychic guards so this makes up for those two. It makes you more cautious to not get caught.
Yes, it will make us more cautious, sure. But only because we're trying to work around a bad decision in game design. That's not very good. If I had to come up with ways of punishing people for getting caught, I'd do something more like... Make it so that some guards will take ALL your items and release you from jail with nothing, just because that's the crime system of that particular town. Other towns/cities may have different rules.
Something that makes sense, in other words.
It's an abstraction, a major consequence of being arrested, and I'm perfectly okay with it.
A consequence that has no bearing on realism. Skyrim is an attempt at a realistic game. This has no part here.