Considering that you can actively monitor network traffic and, essentially, prove that Apple does not send your data (at least in any unencrypted form) to their servers, they seem to be talking the talk when it comes to security and privacy. I'm not even sure how Apple could screw you over "if it comes to that" when they don't have access to the data in question. The encryption being used is end-to-end and the only person that has the key is the user. Unless you duplicate passwords or share them with people, your data is unreadable by Apple.