Its a security risk, you don't want everyone to have your IP. Thats not private as its location trackable without a VPN and it also opens you up to DDoS attacks.
Makes more sense to use something like Session if you value something decentral. With session you have all their coin miners be the relay and its as private as it gets.
Or if you dont mind it being more centralized and don't mind giving metadata up Element combined with stuff like unredacted.org as the server.
I see your point, but one could argue that showing your IP to peers (your chat contacts) isnt such a big deal. Or even to all the peers, as long as the content is encrypted.
I tried session a few times, but often had connectivity issues. The deal breaker with session right now is the group functionality, you can't generate an invite link, you can only add people manually - which sucks for onboarding. There are communities, but someone has to host a server and that part is a bit more complex and if I understand correctly the community runs over https directly to the person hosting it, bypassing the relay network ( I might be wrong on this?)
