There are people out there that hook up their laptop to an external display and then use it with the lid closed. Wouldn't be surprised if some of them want to use the mic with that configuration as well.
“This disconnect is implemented in hardware alone, and therefore prevents any software, even with root or kernel privileges in macOS, and even the software on the T2 chip, from engaging the microphone when the lid is closed,” said the support guide.
So in this respect, there's no difference between the T2 chip cutoff and a physical switch... except that there could still be a backdoor in the T2 chip cutoff that Apple hasn't admitted to.
I could credentialize in multimonitor usage (I have before), but now I'm getting used to something that's incompatible with portability.