Hi jawns,
There are a couple of points to note about Time Machine. Since Ventura it has been possible to select different backup Frequencies in System Settings; you can now select Hourly, Daily, or Weekly. Also, don't forget you can choose to exclude files from the backup. Further, Time Machine is most useful when you don't use the drive for anything else. It's tempting to whip out the drive to store some other bits and pieces on it but it's doing a disservice to the Time Machine backups and also, some say, puts at risk the functioning of the backups.
Time Machine backups are designed to be a complete unit so that if necessary the user can go anywhere in the backups (ie. back in time) to restore files, or use the backups to restore a whole system to a new or erased drive. In other words, it's not meant to be fiddled with by having bits of it deleted.
I get the sense that what you are looking for is an archiving regime where you can store files that are especially important to you, and this makes sense with a powerful Mac Studio you have with the intense professional-level work that would permit. The two are not incompatible and it's something for you to consider if you find Time Machine a little inflexible. However, I think that it is still important to have a complete Time Machine backup. You don't need it until you need it - and at that point you really need it.
If you have any comments you can always send them directly to Apple via their feedback page: Feedback - Time Machine - Apple
Apple has a couple of helpful webpages on Time Machine for further reading:
Back up your Mac with Time Machine - Apple Support
Exclude files from a Time Machine backup on Mac - Apple Support