Isn't this basically what Duplicity does? It uses GPG to encrypt files before sending them to the remote server.
The big thing I'm missing from Duplicity are incremental backups, which is not a strong requirement for my use case as bandwidth is cheap and I can delete the oldest N backups to free up space.
But I gain a lot from using a combination of tools: I can easily replace each component, and easily improve my workflow by adding more components, such as deduplication or incremental backups if needed.