>It is indeed a failed design. What you describe is how FV2 in Apple devices work. You have a native always-on DEK (Data Encryption Key) in the SEP (Secure Enclave Processor)
That's what TPM 2.0 is supposed to do on PC and why Microsoft is demanding it for Windows 11 yet people don't seem to see the need for it for some reason, then whine about the security implementation.