Maybe? But biometric passports, chip-and-pin payment cards and SIM cards seem to do reasonably well. And Apple can always push out a mandatory software update that rotates the key, if they need to.
> You could swap out the actual phone camera hardware and sensors for a custom board that feeds the entire phone camera data of your choosing and it would be none-the-wiser.
Apple's 'TrueDepth' cameras are serialised and paired with the rest of the device. The touch ID sensors were before that too.
I don't know the precise details, but reports from people trying to repair devices independently of Apple are that the phone is very much the wiser.
e.g. https://support.apple.com/en-gb/120567 https://www.reddit.com/r/iphonehelp/comments/1dl38kq/iphone_...
That prevents trying to swap the module, but doesn't prevent swapping out the sensor on the module itself.
Better learn about the good one, but I guess it's harder than making up nonsense.
Also the TPM chip doesn't really have means to tell the phone isn't lying to it or whether it was transplanted onto another board. It will just happily sign anything as long as everything it can see checks out.