What about the troves of metadata they collect and make available to law enforcement? Plus the fact you have to register with a phone number which can tie the metadata to a specific individual.
Doesn't sound very private to me.
Privacy is full of tradeoffs. Security isnt. My messages on WhatsApp are safe from anyone I don't trust that doesn't have 10 super computers and a lot of patience.
But that doesn't mean everything I do on there isn't tracked to kingdom come. It doesn't mean the fact I sent a message to Alice is private.