Sounds about right to me. And if you can't trust the hardware, it goes without saying that you can't trust the software running on it.
They go on to explain/promote their "Betrusted" verifiable hardware approach, which is good and all, but ultimately I feel suffers from the same fundamental problem (hard to verify the actual hardware you're using without destroying it). Some mitigation strategies are offered, though. I'm glad they aren't over-promising, and are clear that these are steps in the right direction rather than full solutions.
I think most people (myself included) don't have the technical expertise to know if a given verification is valid, either. Such people would need to offload that task to someone else — someone they must trust, yet again.
The notion of trust is so profound and slippery, even without involving computers. It's fascinating to see it play out in a more rigorously-observed fashion through modern technology.