Wax elements are also used in thermostatic valves for faucets (to keep faucet temperature constant given variable hot and cold mains): https://rogerdickey.com/the-ideal-faucet/
Hard disagree with that faucet design, but is a neat idea. I like my bathroom faucet as low maintenance as it already is.
The use case for the full unmixed hot tap is hygiene (usually washing face and shaving).
I also don't want any hot water mixed in when I'm washing my hands. The water coming out of the unmixed cold tap indicates the ambient temperature of the pipes. That's a feature, not a bug.
Moen figured out a good enough solution without wax called moentrol
Push/pull adjusts volume, rotation adjusts hot/cold mix