It's more than that of course, it also deals with the personal standing that would make one vulnerable to blackmail due to financial duress and conflicts of interest. This of course becomes heightened by default (whether one thinks the government's preference is warranted or not matters not) when foreign contacts are involved. But we're not gonna lecture each other on this, since it looks like we both have held Top Secret clearances to varying degrees. TS-SCI in my case, and happy not to have it anymore, life is simpler for me these days.
I'm not a registered voter, so I have no dog in the ghastly partisan tribalism that prevails our national discourse, but that dude is a member of the King's court. Meaning, we all understand how ridiculously backlogged the investigation system is, but if you truly believe that the system is so egalitarian so as to put the POTUS son-in-law's Yankee White Initial in the hopper with the rest of us nobodys rando SSBIs et al, then I got a timeshare in Aleppo to sell ya. The dude's got more foreign contacts than an Emirates flight attendant on intl layover. He's got a lot of conflict and trolling for financial bailout by foreign entities. That's not a partisan statement in that I don't care for that angle (it's all the same corrupted 'two of the same one' system to me), but rather that in this case I think the system is actually working.
I've known people at my level with a lot of financial/personal turmoil still get a TS, and that has made me skeptical of the real value of the security clearance system. I always found the parallel systems to be more effective. PRP and SCI in my corner of the world at least. At any rate, I agree with the OP, medicals should be relaxed. And I digress.