Trusted computing can be used for DRM. I'm much more interested in it as a privacy enhancing technology: the fact that you can have strong guarantees about what can be done with data in the enclave is useful for a lot of applications where you have sensitive data.

(Putting aside the fact for the moment that most - if not all - trusted computing platforms have some security vulnerabilities. Obviously this is bad, but doesn't preclude their utility)

This is supposed to be a replacement to TrustZone applets.

Not really. ARM TZ has been repeatedly blown open, in part because it’s not really a separate core or virtualized workload, but a different “mode of operation” that the standard CPU cores switch into temporarily. Basically going back-and-forth between TZ and your OS if I understand correctly. Turns out that’s a side-channel attack nightmare.