A user configurable “hardware” privacy switch is a contradiction in itself. If it can be controlled by software it can’t do what the marketing claims 🤦

One reason to have hardware switches is because the manufacturer doesn't want malware that has compromised the OS to be able to bypass it, and from this standpoint

which is a very legitimate position

then that's very much a real objection.

But another reason is because people don't want to rely on using an app on a touchscreen, but to have a convenient way to twiddle the thing without dicking around with the touchscreen, similar to why people complain about some modern cars lacking physical controls. Lets you flip it off in your pocket or whatnot. From that standpoint, it might be a reasonable design. That is, there it isn't "I'm worried about the OS being compromised", but "I just want a convenient way to kill access to software running at an application level to various sources of data".

I do think that it's important to make sure that consumers are not misled as to what guarantees the physical switch provides, though.