Yes, I believe that not only is that correct in terms of their philosophy, but as Professor Zuboff points out, it is baked into their business model. It is this notion that any data that exists in the world, claimed or otherwise, they will claim for their own economic use.
Again, framing how you do that privacy is extremely difficult and, in my opinion, would be best done by simply banning the behaviours that are used to gather the data.