Oversimplified and not accurate. Some manufacturers had flawed implementations, others did not. Also, that was a long time ago. There are advantages to hardware encryption. It preserves performance and mitigates other vectors like cold-boot attacks without having to encrypt RAM, which also comes with a performance penalty. By the way, both software and hardware-based encryption can be combined. Cryptsetup on Linux actually offers this, and before you ask, the keys are split. If one is compromised, the other remains secure.
Less emotionally but mostly equivalently, the expense and non-cryptographic skill requirements of breaking mass-storage crypto are quite high while the rewards are comparable to those from breaking much softer targets, so the absence of results since that one paper only changes my mind very slightly. Besides, we know plenty of examples of what these kinds of opaque, serious-business, pay-to-play environments produce: cellular crypto is an uninterrupted series of disasters, so is Wi-Fi, and the things that we do know about storage devices don’t point to an outstanding culture of cryptographic competence there either. Once you’ve done enough to slap an “OPAL” label on it (which says nothing about the internals), there’s just no competitive pressure to improve.
There is a right way to do all this, and it’s essentially what NICs do: allow the host to offload symmetric crypto to the device, but keep the results of said crypto accessible at any moment. And it’s not like there are even that many modes used in full-disk encryption, let alone ciphers.
It’s also a way of saying that the entire approach taken by hardware disk encryption (unspecified crypto done inside the device in an unverifiable manner) has, with the benefit of hindsight, proven fundamentally flawed despite its reasonable appearance (in every system which had used it, not just storage), and I wish there was a way to pressure (consumer) storage vendors into going in a different direction. It is simply never a wise choice to trust people’s opaque crypto, however competent they are.
you use veracrypt which doesn't have any hardware attestation (convenience) features, but it does still leave you vulnerable to the same surface PIN+TPM is vulnerable to. the real defense is making it so opening your laptop/desktop physically fuses something via latch and wipes the key off your system requiring re-entry.
of course, who wants to own a laptop/desktop that you can't open we have enough of that with our phones.