And should I be changing something?
# gpg --homedir /etc/pacman.d/gnupg --list-keys
gpg: WARNING: unsafe ownership on homedir '/etc/pacman.d/gnupg'
/etc/pacman.d/gnupg/pubring.gpg
$ ll /etc/pacman.d/gnupg
total 2476
drwxr-xr-x 1 root root 402 Jan 14 15:33 .
-rw-r--r-- 1 root root 0 Jul 15 2020 .gpg-v21-migrated
srwx------ 1 root root 0 Jan 14 15:08 S.dirmngr
srwx------ 1 root root 0 Jan 14 15:18 S.gpg-agent
srwx------ 1 root root 0 Jan 14 15:18 S.gpg-agent.browser
srwx------ 1 root root 0 Jan 14 15:18 S.gpg-agent.extra
srwx------ 1 root root 0 Jan 14 15:18 S.gpg-agent.ssh
drwx------ 1 root root 14 Jul 15 2020 crls.d
-rw-r--r-- 1 root root 141 Jul 15 2020 gpg.conf
-rw-r--r-- 1 root root 17 Jul 15 2020 gpg-agent.conf
drwx------ 1 root root 88 Jul 15 2020 openpgp-revocs.d
drwx------ 1 root root 88 Jul 15 2020 private-keys-v1.d
-rw-r--r-- 1 root root 1227986 Jan 14 15:33 pubring.gpg~
-rw-r--r-- 1 root root 1227978 Jan 14 15:33 pubring.gpg
-rw------- 1 root root 0 Jul 15 2020 secring.gpg
-rw-r--r-- 1 root root 49152 Jan 14 15:32 tofu.db
-rw-r--r-- 1 root root 17760 Jan 14 15:33 trustdb.gpg
edit- removing gpg: Note: trustdb not writable since it was in the output when the command was run without sudo.