They say this:
> You can create a Kagi account with any email address including a fake one (we do not care or verify it, it is just an id for logging in)
But seeing how they didn't go the Mullvad way, and instead chose to ask for an email during signup and hide this bit of info in a completely separate page, doesn't sit too well with me and comes off as a little bit dishonest (they say they don't need this info but sure seems to me they seem to want to have it).
And part of the message I get from reading their F.A.Q. is that a valid email address might start being required at any time soon.
Sure, they would have payment information anyway, but if searches are also linked to email address, that means companies that offer free services can try to buy this information about their free users. So even if you don't pay for, say, Discord, they can still be interested in the searches that are linked to the email address you signed up with.
The difference in privacy between Mullvad and Kagi is not even that much since both are paid services; but Mullvad can get my money and a good chunk of my internet activity, while Kagi doesn't get either from me.
Look, I don't mind too much paying for stuff. And even if I'm paying, I wouldn't even care[1] if I get non-intrusive non-tracking ads (i.e. just text, or first-party <img> tags) related to stuff that I don't delete from my search history. Show me ads for anime figurines, or new releases of light novels, or nice notebooks, or shops selling plants, or computer parts, or a new Steam Deck, stuff like that. I would even help fine tune the ads if it means I get better recommendations (or fewer bad ones, at least).
But it's these kinds of mixed signals, like trying to project an image of offering better privacy than what's common[2] while also doing the email address thingy, that give me a lot of pause when I'm evaluating a service.
[1]: I'm aware my stance on ads is unusual here in HN. I wouldn't disable my adblocker, but if done right, I wouldn't need to. I haven't gone out of my way to block HN frontpage ads (yet), for example.
[2]: That's the subjective impression I got, which might be wrong. The rest of my comment was written based on this.