Agreed.

If this is an entirely corporate offering, with supporting EULA - you could accept it as simple monitoring requirements. But without that clear separation of corporate, and potential end user devices, this feels more to me perverse - like spying - than anything.

You are removing the right for someone to make a mistake.

That being said; the idea of a system to which a conversation is mutually engaged (“contract”), but to which a single party can immediately and entirely redact their contributions is flawed at best.

Feels like some kind of in-between is required - hopefully with clear end user understanding.