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Not the same, but you can use Shortcuts to make a shortcut to turn off wifi completely in the notification centre widget area

I think the average customer doesn't really care. The information about the surrounding wifi APs is (ab)used to speed up the time to get a location fix. Time to location fix is important for the customer.

Apple claims battery life implications are a myth: https://discussions.apple.com/docs/DOC-12271

I believe reasoning behind it is that you might end up leaving those switches off and burning through your data plan/wondering why you AirPods no longer work.