There is a long debate if Windows Defender can be as good as 3rd-party security software. If one looks at the AV test results for Defender on Windows 10 FCU, the answer is yes, except maybe some top AVs. Defenter adopted similar techniques as other AVs: block at first sight, local AI, AI in the cloud, detonating suspicious samples in the cloud sandbox, etc., and developed the best file reputation cloud on the market (SmartScreen Application Reputation). So, there is no reason to be worse than most AVs.
The top Avs developed some unique features that give them an advantage over Defender. So, additional security is required for the higher security like: SRP, Anti-exe, Sandboxing, Windows policies.
I can fully agree with
@Lockdown statement:
"
What is really protecting people in the vast majority of cases on a default Windows protected system is probability and that the system isn't being exposed to much risk. "