I'm also not saying that all compliance standards related to data security require physical destruction; just that these absolutely exist, mostly in defense and similar areas.
But, I mainly made my comment in reply to this part of your comment:
>Iād assume this device targets that market.
Because I don't think there is any market where this SSD punching device would be compliant and cryptographic erasure wouldn't be compliant. At least, in my career, I have not seen any environment or standard where this would be considered compliant but cryptographic erasure wouldn't be.
I didn't explicitly say this in my original comment since it seemed implicit given the context.
I am very explicitly saying cryptographic erasure is not required if you are following physical destruction standards (in ISO 27001 and NIST 800-88, at least).
If they are strict enough to not allow for cryptographic erasure (or the data is above a specific sensitivity), this device would likely not be in compliance either -- physical destruction generally requires shredding/grinding to a specific particulate size, or incineration, and this device does not appear to do either.