I was under the impression that Bitlocker wasn't available on Windows Home?

If you have an older computer, without TPM 1.2/2.0, then you already don't things like Windows Hello, but you might have secure boot and some brute force prevention, so you wouldn't be worse of as a home user if Microsoft allowed you to run Windows 11.

For new computers I can completely understand that Microsoft would demand that vendors ship systems with TPM 2.0. For upgrades I just struggle to see any really compelling reason, it's not like Apple where Microsoft is trying to also sell hardware, that's mostly on the OEMs.