The main difference that Denuvo does nothing to improve the experience of the end user.

I don't like Anti-Cheat solutions with elevated privileges but they have (at least for some time) reduced the number of Cheaters in games like Valorant or BF, for most users this is at least a somewhat understandable tradeoff. Denuvo on the other hand is DRM and a pure tradeoff in favor of the publisher at the cost of the consumed.

There is a user argument for anti cheat as a user = less cheater.

There is no user argument for DRM, if anything there are many against it = higher game price/less money for the actual game and devs, indirect funding of DRM software, worse performance, higher system requirements, worse preservation, worse privacy, longer loading times, online requirements, worse usability, machine activation restriction, bugs...

How are you protecting yourself at the game itself spying on you?