Noteworthy: this flaw was fixed for versions of the processor after the iPhone X, it requires physical access to the device, and it can’t be fixed for older processors.
I'm fairly sure this bug is related to how the SEP handles it's 64 bit numbers... so it might not be exploitable on newer chipsets. IIRC the iPhone X has an ARMv8 SEP vs Cortex-A7 in earlier models.
We all know the first rule of IT security: Physical Access = Game Over
Not just against theft. Some countries are not very free, and might confiscate your device for no good reason. Another important feature is that you can resell the device without having to worry about data recovery.
Obviously, its a knife which cuts the other way too. It has disadvantages. For example, for law enforcement all around the world.