Apart from the several times they've been fined in the EU and various other countries for (summarising here) slurping data, lying about deleting it, favoring their own services, and so on?
Of course, such fines (etc) are subject to potential change over time because lawyers. But they're definitely not a bastion of good actions and credibility. :(
Does that matter? That data will be around forever (longer than Google). Do you trust every person (and lawyer) Google will ever hire from here on out, and every company who will purchase that data once Google is gone?
Actually Google anonymizes the data and deletes it after analysis (I have no idea if they do but since we're just making things up with no basis in fact my guess is just as valid if not more valid than yours)
More valid - heres something that might surprise you all - my 20 year old anonymized data is as worthless to google as it is to me - so yes I don't care if someone gets a hold of it after google no longer exists
They have enough paid devil’s advocates arguing for them disingenuously; no need to spread their propaganda for free!