I've only spun up a SEV instance for the novelty but am considering using it for things like hashicorp vault where performance isn't critical but extra privacy assurance is nice.
Fundamentally, though, system security hasn't caught up with the promise of SEV. It's far more likely that a VM will be compromised by 0-day attacks than insiders at the cloud companies. But if you really need to run a secure kernel on someone else's machine then SEV is the way of the future. This includes using SEV on-premises against hardware attacks. I've wanted hardware RAM encryption for a decade or two to avoid coldboot attacks and similar hardware vulnerabilities.
Fundamentally, though, system security hasn't caught up with the promise of SEV. It's far more likely that a VM will be compromised by 0-day attacks than insiders at the cloud companies. But if you really need to run a secure kernel on someone else's machine then SEV is the way of the future. This includes using SEV on-premises against hardware attacks. I've wanted hardware RAM encryption for a decade or two to avoid coldboot attacks and similar hardware vulnerabilities.