Well, that's the same thing they did with the "Topics" thing in Chrome -- “we can track you and figure out what you like and send that information to other websites, but they can't do that directly. You are safe in our hands. Don't you see that's better?“
I just looked through the perks on my Google One and don't see this offering. I don't see it in the premium perks either. Do you happen to have a link? Is it some kind of hidden benefit?
A few of my personal details were found on "dark web" according to Google. Well, they can't really talk to those people and say don't leak my password.