Fair warning: I know approximately zero things about fonts and font encodings, so this is perhaps another naive question on my part.
Recently, I asked about the behavior of \detokenize{_}, as one needs to specify \usepackage[T1]{fontenc} for it to work as expected.
Apparently, the default font encoding for LaTeX is OT1, and there is no _ in OT1. Thus, for something like \detokenize{_} or \string_ to render as _ and not ˙, one must specify T1 font encoding.
Yet, as @egreg points out in a comment on that question and as we all are likely aware, \_ renders as _ in LaTeX without having to do anything to the font encoding.
So, my question is how can LaTeX actually render \_ as _ if there is no _ in OT1, which is the default encoding?