That hardware is completely unrelated to such a simple feature. Something like AirDrop will only use fairly trivial crypto, which most likely ciphers with full acceleration available but even without it would work fine with plenty of performance headroom.

Neither Apple nor Google is doing anything revolutionary with their silicon for such a standard compute task. It's really mostly minor tuning to get a more optimal part instead of an off-the-shelf chip catering to other uses too, with die area and power consumption "wasted" in your setup.