The value difference is not because of invisible buffers! Marketing material and usable OS space are measured in different units, but the usable amount of bits in each value is exactly the same.
So 1TB = 1000*1000*1000*1000 bytes/1024/1024/1024 = 931GiB (or 0.9TiB)
I don't give a shit whether your operating system likes to show you disk usage in binary or decimal units, because I'm not talking about software at all. I'm explaining how the hardware is built. I especially don't need another person to try to explain what the binary and decimal units are, after I've repeatedly used both correctly.
Modern QLC has very low write endurance so those drives need to have spare space to use when it starts to wear out.
Second, in the SMART/drive health data, there's usually a counter tracking how many reserve/spare blocks remain usable as in not worn out and retired. That's a one-way counter; deleting data won't un-retire defective or worn-out blocks.
It's almost unheard-of for a drive to directly expose a realtime counter of how many blocks are currently unallocated, not being used to store data, and in the erased state making them available to accept new writes.
If you have two identical electric cars for the same price, one with a range of 350 miles and one with a range of 280 miles, which one would you buy?
If you have two identical phones, one with a 4300 mAh rated battery and another with a 3400 mAh battery, which one would you buy?
If you have two equally priced SSDs, one with 500GB capacity and one with 480GB, which one would you buy?
To enterprise customers the sales rep will explain "look, this device has a bit less space, but the write endurance number quoted here is much better, over 5 years and 5000 drives this will lower your TCO by X". In the consumer space you build your entire brand around one price-reliability tradeoff and stick to it, and usually the cheaper one with the bigger headline stat sells the most.