If you talking of AMD SEV it's actually a useful technology. Confidential virtual machines not only protects you from possible spying on AWS or Azure, but also

If you talking of AMD SEV it's actually a useful technology. Confidential virtual machines not only protects you from possible spying on AWS or Azure, but also make it possible to have some decentralized / P2P compute more feasible. Of course nothing is perfect and you can never have 100% trust to someone else hardware, but it's defenetely step in right direction.