We have no control over what "tech" companies do with the data they collect. As you point out, this is not part of any enforceable agreement. "Tech" companies make statements in marketing and "privacy policies", which they are free to violate unbeknownst to their users, but they generally do not enter into agreements that limit what they can do. It should not matter that the price is "free" because in the agreements they provide ("ToS") you are almost always promising to do (or not do) something.
The whole arrangement, the foundation on which the "tech industry" rests, is incredibly one-sided and I am not sure how much longer we can continue down this path with a straight face. IMO, we are living in a "reality distortion field" as Jobs would call it. However there are still some intelligent people around who (let's hope) are not on the take. Check out Lina Khan and Tim Wu: https://en.wikipedia.org/wiki/Tim_Wu