Byku I too wonder what threat model justifies using Play Store instead of Aurora.
Wrong way around. There is nothing from a security or privacy perspective that warrants using Aurora, as it fares worse in both. The only few reasons warranting to use Aurora Store are if you simply cannot use the Play Store, i.e. due to Play Integrity preventing you from even downloading an app.
Byku no telemetry
This is not correct. Aurora Store does not and can not protect you from Google telemetry. Play Store and Play Services are not sole deciding factors in Google being able to perform telemetry or data collection on your device, just installing apps from the Play Store is enough, as many apps from the Play Store bundle Google libraries with them, which can run fully independently without Play Store or Services being present, but facilitate the same access for Google as if those would be present. Due to sandboxed Play Services, this is very minimal data either way.
Byku doesn't require user profile
It still does, it just allows you to use shared accounts not under your control, which has its own security pitfalls.
A quote from the official project account on Twitter:
Aurora Store is a frontend to the Play Store but it adds significant issues including with security. It's better to install apps with the sandboxed Play Store than Aurora Store if you care about securely obtaining apps since Aurora Store doesn't check the Play Store signatures.
Soure: https://xcancel.com/GrapheneOS/status/1923752123214287075
Aurora Store is officially not recommended. It does not improve privacy, it cannot improve privacy, it doesn't avoid any of Googles data collection or tracking and only makes security and privacy worse.
More links:
https://xcancel.com/GrapheneOS/status/1870213640340508841
https://xcancel.com/GrapheneOS/status/1870213474942353510
https://xcancel.com/GrapheneOS/status/1844534513663185124
https://xcancel.com/GrapheneOS/status/1832845902542762448
https://xcancel.com/GrapheneOS/status/1831053343520952611