As somebody whose read some of those privacy policies, I'm not sure I understand what I'm agreeing to.

For example, in gsuite they only claim to not mine your data for advertising purposes. Does that mean 'we only use your data to provide the service', or does it mean 'we use your data for everything but advertising'?

Many people I know barely even know how their data is or isn't used, and are shocked by recent news stories. That's not informed consent imo