@ypl, when setting up a new iPhone from a backup of an old iPhone with Stolen Device Protection [SDP] enabled as "Always," I do not believe that "there's nothing to be protected by SDP." Complete access to all the iOS settings from the old iPhone on the new iPhone by an adversary is exactly what SDP is intended to prevent, including critical configurations such as changing the Apple ID password with the device passcode.
Interestingly, I am unable to find any documentation by Apple concerning how SDP behaves in the backup/restore scenario we are discussing. I suspect that a solution exists? However, until I know for a fact that an iPhone owner can easily recover from using SDP="Always" in the event of a Face ID hardware failure, I personally will only use SDP="Away from Familiar Locations."