That's extremely concerning, given that the domain name industry has a very robust set of regulations and legal procedures to govern privacy, mediate dispute, and establish consumer rights. I'd be very concerned about what this relationship between Njalla and myself would do to those protections - they're not a registrar, nor are they a reseller - what am I actually paying them for?
Unfortunately, the ToS and/or registration agreement that I am signing up for doesn't appear anywhere that I was able to find. I went through the purchase flow to try to buy a domain, but it won't let me proceed without funds in my wallet, and I'm not going to put 30 euro just to try and read a legal doc.
In other words, this seems like it's Probably a Bad Idea(tm), though it's difficult to know without more transparency on their part. (full disclosure: I work for a company involved in the domain industry)