(did you mean "Bands" instead of "Bandits"?) No more so than losing a "Card" in my opinion.
Don't the AP holders just get ONE band? I don't know as I am not currently an AP holder, but I thought they got one MB (Per) and some kind of charm that goes on it (or something like that). If I were an AP holder, I don't think I'd want multiple bands in the same year if I were going that frequently.
All of this being said, I hate the thought of "Throwing" these away every time as suggested. It just seems very wasteful. I am thinking, that if there IS a battery in the devices (for the Active RFID), then it should be designed to be removed easily (by an adult) to be replaced so that you don't have to have a new one each time.
Also, short of those who are going very frequently (probably a lot of Florida residents), why would you take ALL of those bands with you if you don't need them? I would think when you get your new bands, that you pack only them to take with you. When we got our "FIRST" ever MBs we took them out of the box only to check them out. Then they went back in until we left for our trip. We then packed them for travel.
Don't get me wrong, I can see a better way to handle this, but as Andrew015 suggested above, I am sure once WDW figures out all the bugs they will start to streamline this process as well to maximize the profits, because while the MBs probably don't cost a lot, I am certain, it's a cost savings that could be had on the bottom line.