Outside of compliance obligations, what exactly is the 'security' value of Shield encryption? Not only is the database itself abstracted, the ability to decrypt data is essentially based on FLS. In which case, I'm not seeing how encryption itself specifically protects against unauthorized access. It seems that it is more critical to get the rest of the security stack locked down - identity/authentication/sharing and so forth.
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In the core platform data is encrypted at-rest , along with customer-controlled, tenant-level key material, when either Classic Encryption or Shield Platform Encryption is being set up. Oracle TDE isn't implemented by default and even if it was, it wouldn't segregate between tenants (encryption/key wise) but encrypt the entire DB as a whole, for n tenants, with the same key material.