"Late submissions accepted: Yes" is the default OOTB for Samigo. Accepting late submissions should be an exceptionally case not selected by default.
All the assessments usually have an opening date and a due date and not all of them will have a retract date. The retract date defines an extra period of time after the assessment's official period of time in which the students are able to submit their assessments. Therefore, it is an extra period of time and it should be an optional choice, that's why we also believe that it should be not selected by default.
In the past, there are other assessment params whose default values have already been changed like the param "Students' identities can be seen by graders":