1. You don't trust people with physical access to the computer. For the average home user, this means you consider the hardware owner a threat.
2. You want to protect against malware that has already taken complete control over the OS at runtime, and that wants to write itself to disk or the BIOS so that it survives a reboot. At this point, the attacker has already won, so... This might make sense on a stateless appliance like a Chromebook where you do factory wipes a lot.
So TPM mostly "protects" against the hardware owner, or against malware that already has 100% access to all user data, and just wants to stick around a bit longer.
Personally, I'd go with TPM being net negative, because the primary threat model it "protects" against is the actual hardware owner.
The useful use-case of a TPM to me is the ability to encrypt my disk without having to type a decryption password each time I use it.
In case you weren't aware, the ability to do a passwordless unseal can be tied to not tampering with the bootchain. It's not entirely bulletproof, but it's beyond the abilities of most thieves to bypass this (versus just popping the drive in another machine).
I guess you’re looking at it as a freedom for gramps to dual boot a homebrew OS, and I’m looking at it as taking away gramps’ freedom to install persistent malware that requires buying new hardware to get rid of.
The TPM is also used for device authentication. It prevents the leakage of certificates that are used to ensure that you are using the device you claim to be using. This is highly relevant when having remote access from users and one would like to enforce tiering rules together with privileged access workstations.
Furthermore, the second example in which "the attacker already won" is missing the context. The attacker does not want to access the computer (in the industrial example), it wants to use to escalate access within its organization. The TPM can be used for remote attestation, that is, a remote server can verify the integrity of the boot process of the device before giving access to remote resources. In other words, it can be used to check for device compliance.
It is definitely a positive for enterprise security.
On the negative side requiring TPM to install Windows 11 is planned obsolescence that greatly outweighs any perceived platform level security Microsoft promises. A lot of e-waste will be generated ahead of the Oct 2025 sunset of Windows 10. Who really believes Microsoft is fighting for user security like Google did when they proactively sunset SHA-1? Platform security also means bank apps refuse to run on rooted phones. Some online games have metastasized from kernel extensions to TPM verified hardware IDs.