For Webex Teams, the customers can run their own key management server[1]. Traffic gets decrypted using customer-controlled keys running on their own hardware.
For Webex Meetings the media traffic can be encrypted end to end[2]. Of course it breaks all cloud-based features (network recordings, transcriptions, join via web...) but for some users that is the better choice.
[1] https://www.cisco.com/c/en/us/td/docs/voice_ip_comm/cloudCol...
[2] https://help.webex.com/en-us/WBX44739/What-Does-End-to-End-E...
This should be an easy business opportunity. Give me easy access, E2E encryption, simultaneous screen sharing, whiteboarding, ability to mute other folks, good quality video/audio and I'll pay you thousands of dollars per year for my company to use that service in exchange for not routing my traffic through China.
I have to use both Zoom and Meet for various calls, and being able to send a link to someone and know it will work without anything being installed is a big bonus for Meet. I think Zoom has better quality, though.