And getting the data is not hard, they already have it. Risky is indeed a bit making use of that data, as that requires at least some humans (as potential whistleblowers). But you don't even have to tell them, where the data came from.
Whether they do it? No idea, I assume not, but I see a risk.
People always want to overcomplicate everything to benefit 5 super rich people that got rich taking wages from workers and ripping off retail investors. Please stop the pandering. Vote for yourself and your neighbors, don't vote to eliminate privacy so a rich pervert gets to exploit you.
Local hosting will be a solution, once the hardware becomes affordable.