In the current Confidential Computing landscape, trust is being shifted from the cloud service provider to the hardware vendor. Whether it's AMD-SEV or Intel's SGX/TDX, the trust "root" becomes the entity responsible for creating the secure enclave or confidential VM.

It's important to recognize that this 'root of trust' must still exist somewhere.

While homomorphic encryption offers an possibility for computational privacy without the need for this kind of trust, it isn't a one-size-fits-all solution due to its computational overhead and limitations. (although I'm not an expert on that).