The people saying this is an invasion or erosion of privacy - do you not understand that privacy goes out the window when you elect to use a third party service to communicate with? You're also writing these concerns on an Internet forum lol. This forum stores all your communications too! That's how other people can see what you write!
It's not "spying" as a few have said because spies don't tell you upfront that you're being spied on lol. They make it very clear that if you use chat in the game they record it, and they tell you why they do. If you don't trust they're telling the truth then don't play the game or don't chat. To those saying "what's stopping them from selling the chats!?" The answer is the same as it is to the question "what's stopping any company that has any of your data from selling it!?".
Again, you're choosing to use a third party service that is making it clear up front that they record your chats. You shouldn't then act shocked or appalled when they record your chats. So much slippery sloping going on in here it's ridiculous. You're no doubt pretty much all posting these concerns from devices running closed source operating systems too lol.
