Won't that make the chip bigger and/or slower? I think the compactness where the main components are so close together and finely tuned that makes the difference. Making it composable probably means also making it bigger (hence won't fit in as small spaces) and probably slower than what it is. Just my two cents though am not a chip designer.
Just making the SSD (the only part that wears) replaceable would greatly increase the lifespan of these systems, and while supporting M.2 would take up more space in the chassis, it would not meaninfully change performance or power.