I think it's arguable that it wouldn't be catastrophic.

Doesn't have to be outright lying, it can be something like "opt out" being off by default, and them opting you in at the next update without you noticing.

This is just a gut feeling and goes into the conspiratorial energy, but I'm pretty sure I can find countless examples of companies behaving like this in the past where it wasn't catastrophic (google meta amazon adobe ...)