What's the point in separating these two devices?
Benefits of joined-up
- Smaller footprint
- Known compatibility
- Manufacturer support
Benefits of separate
- Can use ubiquitous parts
- More examples
- Better supply availabilty
Importance for long-term
This last issue (better supply possibilities) is exceptionally important in designing long-term devices, where you want the maximum amount of compatibility with what will be available in the future, ideally with manufacturer support. You can still get Z80 chips, for example, which will plug straight in. If you picked something perfect-but-specialised, you'll be out of luck, and will have to do a redesign, will may cascade into all kinds of difficulties.
Of course, in times like the present (2022) there are widespread chip shortages and many exceedingly common chips are unavailable (ATMega CPU, for example, is unavailable from the major distributors I just checked, which normally have 10,000 or more units; same for ENC28J60 ether.) It has to be said though: you are still more likely to find these eventually compared to a part which didn't sell well.
As an example, one of my clients is currently in a crisis because a common part is unavailable, which led to the subsystem manufacturer cancelling a product line, which has triggered a casing crisis because the alternatives don't fit; it's non-trivial because these are sealed underwater units. My client is nowhere near as large as those in the car industry where they can't get chips either: that industry is large, but low-margin and inflexible (because of certification).