Really? That's a weak argument if ever I heard one.
Perhaps it's time to take a stand and say "no more!"
What's to stop them adding in something else later that "accidentally" grabs IP addresses, and sends them "accidentally" to their third party analytics company who doesn't give a shit about your privacy. That company then takes their other data, joins it all together and adds to the picture of you that you never asked them to create!
When you open this door, there is no closing it.
The argument comes down to this (for me, at least): You got the software to this point without telemetry. Why do you need it now? Is the application all of a sudden unusable?
Edit: I forgot! They already take your IP address but my point still stands!