It's not. For some reason, Microsoft don't use TPM parameter encryption, even though every year or two some security researcher or another comes up with another stunt TPM-sniffing device to parade around.
> With LUKS it at least has a password prompt to unlock the drive.
Configuration dependent. You can set up Linux to do the same thing as Windows here (I have my home video-security server set up this way, as it needs to reboot silently - I know that I'm vulnerable to warm/coldboot attack and software attack surface, but at least if someone yoinks the drive I'm safe), and Windows can also be configured to prompt for a password or use PIN-authenticated TPM sealed keys.
> Fundamentally I don't understand BitLocker's security model.
Minus the parameter encryption / bus-sniffing issue, it moves the boundary from "anyone can read your drive" to "someone needs to either perform a platform-level attack to access the contents of memory, or hack whatever services are running at the login screen to read your drive." It's a decent security improvement, actually, because it protects very well against stuff like "someone stole our financial data off of a random recycled hard drive."