The sticky tag with the barcode that they attach when you check bags in achieves the purpose needed - to identify the bag. Of course you can always tie bandanas or scarfs too which seems to be popular
Attaching BA tags serves no purpose and they'll disappear fast as they break, and the leather strap opens by itself it seems.
Speaking of w****r tags, was on a LHR-BHD today and someone had 2 GGL tags on EACH of his 2 bags. Perhaps he did buy them on ebay. But he sure looked like a w****r with all that unnecessary bling.