In the 90's, everything was on-prem.
It was in your control, but expensive, hard to update, over-provisioned.
Lots of capex.
Then we moved everything to the cloud.
Predictable expense for just what you actually used, easy to update.
A shift to opex.
But with a downside: now out of your control!
The host could theoretically peek inside your VMs:
Perhaps from misconfiguration
Or a wayward SRE
Or a subpoena from law enforcement.
But now with confidential compute and Private Cloud Enclaves, we get the benefits of the cloud, but also under your control.
The best of both worlds!