It's still not your hardware, so you can't rely on the data being private to you even if the connection is secure.
Then there's going to be all the politics present with the location of whatever endpoint you connect to, issues of uptime and availability, etc.
It's a matter of the threat model you're concerned about, but this does not fill me with confidence if this is considered a "breakthrough solution". There's nothing quite like a half assed solution to kneecap work on a "proper" one.