While this is hardly an unknown fact amongst HN readers, a lot of people get very surprised when told about this.I've seen some of my colleagues going to private mode to browse something not work related, and when I explain that tbis won't help at all, they are almost shocked.
As someone who actually works on the IT-side of this, your statement is technically correct but my experience suggests a vanishingly-small number of employers actually monitor this data in any rigorous way. The only time I've ever seen an org reviewing web logs was in response to a specific formal HR complaint.