If you use a VPN, no. If you don't, then you're trusting the relays not to collect your IP and use it against you or share it.

Collecting your IP is not part of the Nostr protocol, so there's nothing stopping you from taking steps to prevent it. And if someone does take those steps, they're competing with those who don't take those steps.

The market will ensure there is always optionality and Nostr is open for all to build on and use however they see fit.