well but deletion isn't what even those "security nerds" would have expected...

Security nerd here. I would have expected it. But only in the sense that I have no faith in this industry to write secure software and protect from data loss.

I keep hoping better liability laws will force management to support doing it the right way, if not anything else than avoid hefty fines.

This is not a feature built for security nerds. This is a feature built for corporate compliance box tickers, and it works precisely as wanted in corporate environments, where all lost secrets can be easily replaced after visiting the helpdesk room personally.

True, there's that as well

The worst part: the people that work at your bank and at city hall are not security nerds, and don't care to become security nerds. do with that what you will.