In Apple-land, health data is synced to the cloud, but encrypted such that Apple doesn’t hold the keys in escrow; they’re peer-to-peer synced between your devices.

Similar impact from a privacy perspective (assuming crypto is unbreakable), but the data certainly is synced.

True, and to the extent they would exploit it, this basically amounts to providing a good customer experience (b/c Health information is useful) so that you continue to buy into the ecosystem.

Sounds like a solid sales pitch to me.