[andyjpb]

Encryption only helps if you can guarantee that your attacker can't get access to the layer below where the runtime decrypts things.

A cloud hack like the parent poster talks about assumes that you get access to the hypervisor layer and can look at the RAM of the guest machines.

This is not inconceivable. Rather, it seems quite reasonable given the complexity of hypervisors and the prevalence of CPU architecture bugs that makes these attacks easier.

[ip26]

can look at the RAM of the guest machines

This is what https://en.wikichip.org/wiki/x86/sme is for

[andyjpb]

If you have hypervisor access you can simply ask the guest to read the memory for you.