This is not going to turn out well for Microsoft, they will either need to support older gen CPU's or suffer the consequences, I see more systems failing for CPU compatibility than I see for anything else , TPM is really not the issue. Those of you trying to scalp TPM modules are probably going to lose money, if your pc is fairly new, you have TPM , it is just not enabled.
Half the world is not going to rush out to buy a new PC just to run Windows 11, and EVEN if they did, there is a chip shortage if anyone hasn't noticed, this will cause the cost of PCs to skyrocket as supply goes down and demand goes up because chip suppliers are VERY limited and will not be able to keep up with demand because chips are used in just about everything we use in modern life.
My CPU is well within spec to run Windows 11, I refuse to purchase a newer gen CPU just because they want me to.
I suspect somewhere between now and it's release , Microsoft is going to have to make a big decision