More system specs!
Roughly speaking, largely, yes! A hardware based sandbox which is un-interceptible by the PC, including using the PRNG on the ATM which lets the TPM produce private keys for said sand-boxed applications which can't be read by the user. Ie, hardware-based DRM on-chip....wait, isn't Trusted Execution Technology just a frigging sandbox?
To expand, it's lets you write software which is locked to a particular PC at the CPU level. Even the data produced by the software can be locked down in this way, so there's no threat of the data being removed from the premises on a USB stick, etc. As long as the PC is secure, so is your software/data - depending on which is more important to you (or both!).