Most standards (e.g. ISO 27001, NIST 800-88) do allow for physical destruction without cryptographic erasure if the device is being shredded or incinerated (to the applicable shredding/incineration standard of particulate size/temperature). Especially because cryptographic erasure is effectively pointless (at high data-sensitivity levels) if the device wasn't encrypted immediately and prior to data being written. Notably, NIST 800-88 2.6 explains when
not to use cryptographic erasure, and when to
consider it, but there is no
requirement for it.
But, I mainly made my comment in reply to this part of your comment:
>I’d assume this device targets that market.
Because I don't think there is any market where this SSD punching device would be compliant and cryptographic erasure wouldn't be compliant. At least, in my career, I have not seen any environment or standard where this would be considered compliant but cryptographic erasure wouldn't be.