That's just it - there is no privacy. You've got a client which stores plaintext messages server side, just waiting to be broken into by (hackers/government agents/kiddies). The messages are being sent unencrypted unless you enable the "secure" (it really isn't) mode anyways, so we can also add "people who can sniff your traffic" to the list of adversaries.
That's pretty much the polar opposite of "private".
> "secure" (it really isn't)
There was a contest held by Pavel, with $200k prize who will break this "weak security". No one succeeded.
You're being downvoted because that's not how cryptanalytic research works.
You are missing my point, privacy from data brokers and advertising industry :)
Ah, so you mean the kind of "privacy" that's both the easiest to complain about and has the most minimal impact on your life?
That is really subjective. People having all sorts of private info about me is a big deal for me.