Bitlocker still uses the TPM on modern installs. Hardware encryption on SSDs and similar aren't used anymore, but those aren't directly related.
Bitlocker is still vulnerable to key exfiltration attacks because it's not using any encrypted communication protocols that exist in the TPM standard, but that can be (and should be!) fixed.
In the end, I use encryption to make sure nobody can just plug in a flash drive and copy all my personal files and passwords off my laptop. If they have the time and tools to exfiltrate the security key through the SPI bus, they probably have the means to install a hardware key logger in my keyboard as well. The attacks against TPMs are out of scope for my threat model and honestly they probably should be for anyone but businesses carrying secrets as well.
If the United States or China wanted my passwords that badly, they'd probably just drug me or hit me until I hand them over. Defending against such adversaries requires more than just encryption, you'd need to use something like Qubes and alter your entire lifestyle to be secure.
What I want is to have a Linux system where I can turn it on without a password and have a good reason to believe that my files weren't compromises by the maid and that the OS didn't get keylogged. That requires several parts working together.
Getting secure boot to work is easy enough these days, but once you get through secure boot you're in for a challenge. I don't know of any stable bootloaders that don't allow you to edit the init binary to /bin/bash to give you a root shell from the menu, which is a requirement for the ease of use Windows provides. I also don't know if it's even possible to get a chain of trust from initramfs back to the hardware like Windows allows for. The *BSDs seem to be doing some kind of checksumming, but I don't know how far Linux is along with this.
In my ideal world, you get prompted on how to encrypt your Linux system upon install. "Disabled", "Automatic" or "Secure", with a note that "secure" is probably what you want if you can't pick but you have to provide a password at boot. I'd also like for popular distros to switch to full disk encryption because the unencrypted boot partition defeats half the point without secure boot and custom keys (which nobody actually uses).
Microsoft proves that this can be done, although their default allows for booting without a password a bit too easy. If you buy Windows with a Pro key, they'll encrypt your system in place with the click of a button. Everyone can set it up, and in many cases it's even the default. This is a basic usability security feature that Linux just can't compete with, and in my opinion that's a shame.