It depends on where the encryption data is stored. If the bootloader and bios/efi are locked down and the data to unlock is stored in an encrypted enclave or one is using a TPM (and not an external chip one that can be sniffed with a pi), that’s a reasonable protection for the OS even if somebody gains physical access.
You could also store the password in the EFI, or on a USB stick etc. It doesn’t help you much against longer-term physical access but it can help if somebody just grabs the drive. It’s also useful to protect the drive if it’s being disposed of as the crypto is tied to other hardware.
Even just encrypting the main OS with the keys in the boot/initrd has benefit, as ensuring that part is well-wiped makes asset disposal safe®. Some motherboards have an on-board SDCard or USB slot which your can use for the boot partition. It means I don’t have to take a drill to my drives before I dispose of them