2 immediate problems with that.....

1) it will get cracked and if its in hardware, how does it get fixed?

2) it potentially puts liability for the integrity of data at the source. Assuming that third party security experts may not be required that's a big responsibility onto teams/companies who aren't experts in that field. With that in mind will large companies actually put the trust in CPU encryption technology? - I doubt it, I'd wager they'll continue to use and pay for 3rd parties to take this on and also leave them with the responsibility should the worst happen.