It is anti-privacy by design.

Once you've posted something to it, you have absolutely no control over who has that data and what they do with it. That's the fundamental design of the system.

Complaining about meta potentially ingesting all data from the fediverse comes off as a bit naive. Meta is the least of the privacy concerns on the fediverse. You at least know who they are and have legal recourse against them. Huge numbers of other consumers are not even known. Just look at the thousands of instances that have popped up. Many of which are just in joe bob's closet and god only knows how they protect the data.