It's shallow because it doesn't acknowledge that there is a real tradeoff. I share a lot of your cynicism about US tech companies, but I think you need to be realistic about the state of the market and how the incentives align.

Apples incentives are not, currently, as strongly misaligned with their user interests as many other tech firms (meta, google, random startups, etc). Going slowly might not be a bad idea for most people here.

That said, I hadn't seen the demo you mention. If they do do that (bank passwords etc) they are stupider than I thought they would be.