The fact that Apple is comfortable shipping a whitelabel ChatGPT is proof that the whole Private Cloud Compute thing is just for show. They're perfectly happy partnering with the Worldcoin guy to sell you something popular if there's money in it for them. Apple knows people expect them to release some haughty whitepaper, so they cook up PCC and claim you can audit it if they think you're worthy of seeing the insides. Now all the privacy nuts can pipe down while Apple plans a longer-term strategy to make their hardware compete in the datacenter.
There is a world where Apple takes their own privacy commitment to the next level through radical transparency. But that's not what PCC is, it's another puppet for the Punch-and-Judy security theater that sells their iCloud subscriptions.