Doesn't sound safe at all.

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I trust this more than Google spy on everything you do and sell your personal info to anyone and everyone Playstore.

I think its pretty safe. If you install the first apk manualy direcrly from the dev it will have the devs signature. In case Obtainium would tamper with the apk in any way, Android wouldn't install it because signatures differ. What are your concerns?

The first thing that comes to mind is telemetry.

True, but you can check this with tools like TrackerControl.