This is true, but most of that hardware security makes the devices harder to access once stolen/confiscated. For everyday use, against online threats, 7 year ol

This is true, but most of that hardware security makes the devices harder to access once stolen/confiscated. For everyday use, against online threats, 7 year old hardware can be made extremely secure - it's what Windows 10 and Linux do every day on much, much older hardware. And sure, a cryptographic coprocessor will make accessing encrypted data a lot more snappy. But decrypting that data in software instead will work just as well, albeit slower. Which really doesn't matter for 90%+ of phone users.