It provides email, online storage, video conferencing, calendar etc., all of it privacy-preserving by default. You explicitly don't have to provide any personal details.
They only have email and calendaring though, no equivalent of Drive/Docs/Sheets.
I also have a feeling the Five Eyes agreement is about to end.
That's certainly possible, but as long as the servers are in the US, that's not really meaningful I think?
Their integration with 1password and masking email aliases is also very useful [0].
If however you want to host your own emails, I did once write an extensive guide [1].
I myself use neither [0] but that's my nihilism defaulting on convenience.
[0] I've moved my own domain to iCloud+ custom domain offering.
There are other options - tuta, posteo, runbox etc (I have just made a longer comment and I am sure you can find more on the net).
IMHO - we should not ignore other things when looking for a service replacement I mean aspects of a service other than privacy and for me responsiveness and customer service comes near the top or at the top.
Crucially though it’s easy enough to migrate to another provider of self just by updating my mx records.
For a more business oriented replacement that can (mostly) replace gmail, google drive, docs, sheets, etc.. Zoho One is pretty good.