The bottom line is, if it removes updates, meaning you get no security updates, you're at risk every time you get on the net.
The sad realty is, IF Atlas gets to the point where it DOES allow updates, it's likely going to drop it's performance hugely, as updates are always a big part of Windows bloat.
This is why I find just disabling all telemetry is the best compromise. Of course it also disables any apps that use telemetry, and Windows 10 and up has plenty of them, but a tool like O&O can with one click turn off all telemetry, and turn it back on. I also make SURE I run Disc Cleanup after every update, with every single option checked, then I make SURE I click Clean up system files before doing the cleanup.
I find just turning off telemetry frees up roughly 1GB RAM. Most of that other 400 MB Atlas talks about freeing up is likely associated with updates. At least freeing up telemetry accounts for a little over 2/3 of the bloat, which I find is good enough if you have adequate spec.
As far as LTT, the thing you have to understand about Linus, is while he talks a big game about being sincere with his reviews, especially what he says about Nvidia and buying all the hardware he tests, when it comes to ads he does for his sponsors, he seems to not toe that line. So I wouldn't put a lot of stock into what he says about Atlas, ESPECIALLY when all he does to warn you of it's shortcomings is momentarily plaster a list of what it can't do, vs warning you verbally.