That's a very vague privacy policy[0] with more tracking and analytics than I would have expected for something that claims to be "Privacy-First". I guess it only applies to the users' content.
That must be for the original version, which was online. You can download Logseq and use it like any other local app. I don't know how they'd get access to user content.
I have to agree. I tried getting LogSeq approved at my workplace for use, and part of its denial is that LogSeq's written privacy policy is so very bad. I hope the team can find someone to improve it.
To add to the other reply you got, their own sync (which they're testing right now) claims to end-to-end encrypted your data (and, if I recall correctly, filenames/paths too?)