Meaning we really do not know how things are being done inside the T2 chip. Who knows there is a backdoor
Well, what we *do* know is that your Apple Service Provider needs some sort of privileged access to the T2 chip so that they can authorise drive replacements. Sounds like a potential "back door" to me. More to the point, you, the owner, don't even get to have control of the front door key so that you can lock it away in that titanium safe just beyond the piranha tanks in your volcano headquarters.
So to the question, do you really need to lock the drive to the T2 chip to provide better security. I don't think so.
Obligatory XKCD:

I'm sure that there is some scenario whereby you could install a SSD with a malicious OS, or maybe some malicious hardware cooked up at SPECTRE HQ that would hack the T2 from within. OTOH that could be said of every component - so it seems a bit inconsistent that others have reported successful CPU upgrades (pretty major hardware tampering there) and that you can plug anything you like into the PCIe bus without first "authorising" it... That would be pretty draconian - and not for everybody - but probably necessary if you want to do it properly...
Thing is - security is a trade off between the risk of a sophisticated hack vs. the risk of accidentally losing access to your data or having extra downtime because of hardware failure. On a consumer device like an iPhone, with no user serviceable parts or software, highly likely to be misplaced and an increasing role as a payment/id tool then maybe its reasonable for Apple to take security into their own hands because the typical user is pretty useless at it, but for a "pro" product aimed at people who know what they are doing, maybe Apple should trust customers to enable as much or as little security as their work requires.
Of course, one possible reason for having the drive locked to the T2 chip might be because the technology was originally designed for iPhones and MacBooks with soldered-in SSDs?