Refresh still exists but it only works in specific circumstances. In my previous testing, refresh only can work if the WinRE components are the same exact build as the installed OS, but the installed OS build changes with updates. So Refresh can work in a system that doesn't update but that is not typical in a modern system. I also prefer that option as well, as it reminds me of the repair install you could do with XP.
I don't understand the TPM requirement either, especially in regards to the retail market. Probably it was just easier to include an Enterprise feature in all editions and be done with it.