If I remember correctly, zoom used to have on the front page - use this it's encrypted, and 'even used by us govt something-something' - so I assumed it was completely secure.
I actually refused to use other conference services much to the bemoans of many clients who already had other 'goto' software installed, used and understood - and convinced them that in order to talk turkey we needed to use the real secure zoom system.
It passed the smell test at the time for me because they also had paid plans which meant to me a legitimate business that did not need to slay privacy with ads and such, as they had a clear path to make money.
Now they are tarnished, and my reputation with several clients and doctors and others may be as well - as this is getting mainstream press (I think that's a good thing actually) - I'm livid about this.
I agree with below it is also fraud - and another commentator mentioned they changed to "your client connection is encrypted" is still deception imho. Needs a big asterisk and real explanation of the lack of privacy.