I assume the network doesn't broadcast a connection between real life identity and the data you're storing.
So my understanding is that in the example of a decentralized app that uses Filecoin to store an IPFS object on the network the IPFS object id could be sniffed on the localhost by something like Wireshark. This way an attacker could identify the encrypted objects that are of interest to them and then independently request them from the IPFS network.
In terms of threat, I'm primarily thinking of larger criminal organizations that might target things like files containing SSNs, credit history, etc.
SHA-1 is an example, but my biggest concern comes from the potential of quantum computing to render what we consider secure today obsolete. (https://www.technologyreview.com/2019/05/30/65724/how-a-quan...)