Given the whole private cloud bit, I am assuming they keep the private keys server side and never let them out.

That's a good point, You might still be able to trick the cloud to sign your photos, but that's something they could patch in updates without losing control of the key. They could have the server only sign photos taken on the latest ios version.

	▲	jaggederest an hour ago \| parent [-]
		And honestly you could have a similar antitampering oracle that was at least obscured, in terms of "we've detected tampering but won't tell you how or why", which is frustrating but I have to imagine that 99.9%+ of images are clean.