Re: It's the future given the eagerness of TLA's to spy on people.
By itself, it doesn't keep anyone from 'spying' on you or intercepting and attacking the encryption.
HE is about not having to decrypt the data in-transit and then re-encrypting; like when data is passed through perimeter security devices. Or when data is stored at rest, an application doesn't have to decrypt the data before processing it.
You still have to maintain a small modulus to noise ratio (in the key-switching matrices) and manage the field for security.
Switching to low-dimensional fields speeds up the homomorphic process at the cost of security/increased risk. Something we are all familiar with already. We can switch from TLS to SSL, but we also increase risk.