Just read this, I don't see anything harmful for the user (in terms of privacy). Everything said on the documents is under condition: If you decide to disclose in your communication with us. I guess mainly in email communication.

As per closed source, Paolo and company stated it's temporary until they bring the code/app to condition is ready for further development by open source community.

Am I missing something?

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its mainly that the peers learn your IP address.

This can partially be addressed with a VPN or Tor, but I'm not sure how sophisticated network layer identity management could work, like a new IP for each group etc.

thank you, something to keep an eye on. once they open source it should be more clear what to expect from privacy stand point.