If you think that’s a concern, turn on FileVault. Otherwise it’s hard to take your concern seriously.
Sounding too harsh in the arguments for a balanced discussion like this.
We are exploring the facts without telling others what to do.
No one is questioning that FileVault on gives best protection - but its performance on some older machines is questionable.
If you read prev comments - there was a post of screenshot (FileVault on BigSur - as latest OS) with saying that even with FileVault off - user will still be prompted for the password to access Recovery.
Obviously - this is is a bug.
80% of users who never go to Recovery will think that they are still safe...
For exWindows users who moved to M1 Macs - they would presume that system data is safe from acces even without FileVault (Windows: BitLocker) if there is Recovery password (Windows: Bios password with disabled USB booting).
I did presume - but on M1 Mac it was not.
On M1 Mac - Find my Mac is alternative security to get Recovery password.
But it was disabled by me: my iCloud is off (and Find my Mac needs it) + it requires wake on network + if someone steals my Mac - I am less worried on hardware loss, but instead access to to my work files.
We are here to learn something - and not play smart.
I reported this to Apple for filing a bug.