[qingcharles]

Does PlayReady now require a secure enclave/TPM on your PC? Otherwise as you say, the only thing protecting the keys is obfuscation. This has been the same way all the way back to the first Microsoft DRMv1 in 1998 (?).

The decryption keys have to be stored on your device so you can play your media or your game. So, the level of encryption is totally moot. The level of obfuscation is all that really protects the content.

[xurukefi]

With PlayReady, as with any other DRM scheme really, there are different tiers. There is SL2000, which is done completely in software (whitebox crypto), and there is SL3000, which does require a TEE. Which tier is requried for which type of content is driven by streaming provider or studio requirements. I think it is pretty common to allow content up to 1080p to be used with whitebox crypto, whereas 4k+ content will require hardware DRM.