Lockdown Mode basically cripples the phone, feature-wise. It's not quite to the point where I'd (even hyperbolically) say "why don't you just get an old dumb phone instead", but still...
The right thing to do would be to redesign the system from the bottom up to actually be secure in the face of vulnerabilities in any of these features that get disabled because they can be dangerous for people. (And maybe Apple is working on this behind the scenes, which will take them years to complete.)
But, agreed: let's not let perfect be the enemy of the good. It's better to have this option than to not have it, even though it likely creates a super restricted user experience that probably isn't particularly pleasant to use.