Sorry but that makes it even worse. You can't just push ethical decisions to your customers. You are the one building the product and you are the one defining the ethical boundaries within which it can be used by your customers. As technology builders we are at forefront of pushing all kind of societal boundaries and often end up redefining them in the process. As technology moves so fast it can take years for society to catch up and decide that something definitely was a bad idea but by that time it's often too late. No one wants to be the engineer realising years later that what their build was harmful to society, so try be more conscious of the decisions you take. One good framework to reason about the impact of what we build is to simply ask ourselves if there would be any negative long term effects to society of a billion people would use the feature. Right now from your perspective that seems far away and unlikely but in our field this happens all the time, either through scaling or others copying you.
So either put a big disclaimer yourself at which point no one will probably want to enable it anymore except for edge use cases (which hopefully are ethical even though I can't really think of one right now) or just remove it fully. It's a huge breach of privacy and most customers who have issues with drop rates probably should redesign their form and CTA. Unless the reason for people dropping of is that they're doing something sketchy and/or asking for way too much personal information of course, which is exactly the case where I absolutely do not want to have that data nor would I consent to them collecting it before I click submit.