Different strokes for different trees. Those that grow in scree in the wild may do poorly in slower draining soils, so "bonsai" soil is helpful in allowing the roots to be dry, more or most of the time. There are lots of woody plants that don't grow well on mountainsides and do well in "dirt".
The problem with this conversation is that the JBP Purists will want to make blanket statements about drainage which apply in spades to some trees, but not to the same degree with other woody plants. This will be more of a "not invented here" argument than it will be about the finer subdivisions of plant care.
Any needed constituents of soil mixes not included will have to be provided by the caregiver. The Purists will claim to do this, timely, and those with gardening backgrounds will question whether that is really a practical substitute for a proper "soil" with a high humus content, a full range of micro-elements and supporting cast of enzymes and microscopic critters what do their thing processing elements into food for plant life. With good soil, you don't actually have to "know" who's in there and what their doing. Farmin' has been goin' on for quite a while.
As to the drainage boogyman, the pines and their ilk need more than most other trees (do NOT bother specifying the others that just muddies the water, -we know they exist), but most will do just fine in good soil. I have never used "bonsai" soil in 20 years and have lots of trees in good health for a long time. Holes in pots do the drainage.
Here's something you can really sink your teeth into: root-rot is a problem for bonsaiists, but few others complain about it. Bonsaiists use rocky mixes which are reguarded as "poor, nutrient dificient, nearly lifeless mixes" by everybody else in horticulture, but others use high humus and bark-rich mixes. Do you see the metaphor here? Maybe, root rot is a problem of crappy bonsai soil, not soil soil? Huh??