A couple notes about using an SD card for "permanent storage":
SD cards are available in really fast varieties (UHS-II or even SD Express,) in really high capacities (up to 2 TB now,) and they're available in "high wear tolerance" (made for constant rewriting,) but I don't know of any that are even two of the three. The "high wear tolerance" are made for things like security cameras where they constantly write over itself - but those are made for "minimum viable speed". The ones made for speed tend to be not made for constant use, and lower-capacity. The highest capacity tend to be neither "high wear" nor fast.
I have a 2 TB microSD card. It gets about 170 MB/s read, 120 MB/s write. It's not rated for constant use.
I have a 1 TB "high endurance" microSD card. It gets about 90 MB/s read, 30 MB/s write.
I have an SD Express card that can sustain over 700 MB/s read, 400 MB/s write. It's only 256 GB, not rated for high-wear (its speed slows down significantly after only 1x capacity use, requiring a reformat to regain full speed, and it requires special reader, using the built-in SD readers on Macs it only operates at about 100 MB/s.)
My best UHS-II card sustains about 300 MB/s read and write, but it's only 32 GB. (And annoyingly, my Macs built-in UHS-II readers don't have it work at full speed. I have to use an external reader to get full speed. It does get above UHS-I speed, though.)
(UHS-I is now the "base SD card" interface, in theory capable of up to about 100 MB/s. UHS-II has the extra row of pins, and is capable of up to a little over 300 MB/s. SD Express uses the same set of pins, but is basically NVMe/PCIe connection, up to about 4 GB/s. Of course, those are just the interface maximums, actual card speeds are almost universally far lower. Recent Macs with SD card slots are UHS-II. The standards are backward-compatible, a UHS-I reader will read an SD Express card, just at much lower speeds.)
Lastly, the SD interface isn't the most reliable - I frequently have SD cards in my Macs' internal readers glitch and dismount without warning. Usually they remount immediately, and it is rare; but that's something you definitely don't want in a boot drive.
Side note - Apple doesn't support the full security measures macOS supports on external storage. If you want to use an encrypted boot drive with full possible security on an Apple Silicon or Intel with T2, it must be the internal drive.