Yes, for all intents and purposes, it's "gone" for 99.99% of people. Most people aren't going to pay thousands of dollars to try to recover data from a dead logic board. Hundreds? Maybe. Thousands? Forget it. Especially Mac users, who mostly use their computers as expensive web browsers. And let's be honest, $2,000 to transfer the SSD and T2 chip to another logic board would be a bargain.
Apple's goal is to make as crappy quality computers as possible, charge as much for them as possible, and sucker people into paying monthly for everything. There is no legitimate reason for soldering the SSD to the board and tying it to a T2 chip. The "security" excuse is BS. These aren't computers sold to the CIA. There's nothing wrong with having a drive that you can pull the data off of with another computer. And even if you needed security, that can be done through software if necessary. No, the ONLY reason Apple has done this is so people lose their data and hopefully pay them monthly for iCloud backups going forward.