in theory, you can exclude anything that is a text post, but a lot of the content posted on sum subs that you want are self posts. like sports post games, weekly resets in games, or transcripts of twitter threads.
You can always trust a large cooperation to keep your data secret more than any random individuals. They have accountability for losing your data, much more so than the people on the fediverse. A big data breach leads to class action for reddit, here it just takes down an instance and lowers the validity of the technology.
Does it let you use it on specific users? Some bots would be useful to put it on. I know of a few that post relevant videos automatically or aggregate game API data that would be good to add to a few subs.