Is this convention? If we let $B$ be the space of bilinear maps, it seems to me that there is an isomorphism $i_1 : B \to V^* \otimes V^*$ and an isomorphism $i_2 : B \to V \otimes V$. So is it just convention to think about bilinear maps as the tensor product of the dual space, or are there reasons using $i_2$ doesn't make sense?
The spirit of this question is a possible duplicate of this question https://physics.stackexchange.com/questions/105347/is-it-foolish-to-distinguish-between-covariant-and-contravariant-vectors. But the answers there seem to be somewhat intertwined with concepts relating to general relativity. Is this a concept that only makes sense to understand in the context of differential geometry? If not, I am looking for answers that are more abstract.
By the universal property of the tensor product, every bilinear map $V \times V \to k$, where $k$ is the underlying field, corresponds uniquely to a linear map $V \otimes V \to k$. So almost by definition of the tensor product, the set of bilinear maps out of $V \times V$ is the space $Hom_k(V \otimes V, k) =: (V \otimes V)^*$.
Be careful though, it's true that if $V$ is finite dimensional we have isomorphisms $(V \otimes V)^* \cong V^* \otimes V ^* \cong V \otimes V$. However, when $V$ is infinite dimensional we don't have $V \cong V^*$, so that the identification of $(V \otimes V)^*$ with $V \otimes V$ is no longer true.