Alea,
With Intel not having a "Global Platform specified TEE (Trusted Execution Environment)in their processors(yet), it limits the possibilities of the Applets executing in the TEE. For Intel powered smart phones with an Atom processor if there is no TEE for the firmware TPM to run in then the device will require a discrete TPM chip on board. Not desirable JMO if you are the phone OEM. So if the Arm processor community with the TEE/TPM combo just opens more roads up for Wave to go down for revenue stream.
As long as a device has a TPM on it then at least Key management and the secure measured boot attestation is available.