Federation would make me almost instantly recommend it for a handful of cases, but in the meantime they have a lot of catching up to do in the privacy department.
Behold, the two five year old tickets requesting that they stop passing notification text to Apple/Google cloud messaging:
https://github.com/zulip/zulip/issues/6954
https://github.com/zulip/zulip-mobile/issues/1190
For those who don't know: if you have an app and want to send a notification to a user, you use Apple or Google push notification services. In both cases, the notification is plaintext but transmitted via encrypted channel to Apple or Google, then transmitted via encrypted channel to the user's phone. But in each case, the push messaging provider gets to see the messaging text.
So companies that give a shit about your privacy send a token instead, that says "hey, wake up, something happened, fetch a notification." Apple likely doesn't do anything with the notification text, but it's a given Google datamines the hell out of it.
They also still don't have any form of e2ee. Here's another five year old ticket requesting end to end encrypted chat, where a bunch of people say "here's a long list of apps that support e2ee" and Zulip devs go "gosh golly how do they handle keys? Math is hard."
https://github.com/zulip/zulip/issues/6096