As an audio engineer this is a completely absurd argument. Panning bass frequencies never happens. Bass and sub-bass is something you want to feel, not something you want to spatially place. It is always centred for maximum impact - in music and FX.
Sub-bass is sub 40-50Hz, Bass is everything up to 120, and 120-400 is plenty of low-midrange that can take panning like a champ, and its not uncommont for bass frequencies to occupy a stereo field in 2010+ productions.
But its a moot point anyway, since we're not talking about sub-bass with homepod, but about mid/low woofer. (plenty of stereo going on.)
Oh yeah, i say that as an audio engineer, and can confirm what
@dannys1 said about the topic.
Ah, indeed @ one woofer. I overlooked that obvious thing.
— edit —
In hindsight, all of the 2.1, 5.1, 7.1 channel systems i’ve used only have one speaker in the subwoofer. That .1 doesn’t invalidate stereo. Technically the HomePod has enough speakers to do 7.1 sound (which I think is highly unlikely that it does, but it’s possible that it can).
You're missing a very important point, 7.1 speakers are positioned inverted of how HomePod has them.
also, any decent x.x systems have full-rangers for at least the fronts, as any decent cinema mix is not bass-managed but has a separate LFE channel.
And surrounds are usually for the backs only.
This is more akin to having surround mid/woofer driver completely bypassed only using tweeter for spatial position and merging everything to one single bass driver. (not going to sound all that well.)
(edit: i see this has already been answered for you)