Signal for example, is also subject to US law. They can be compelled to reveal everything they have in a person. Which they happily do: they hand over a page with the date of account creation and the day it last connected. Which is all they have.
Don't collect information, and you don't have a problem.
I think the GP's question is more rhetorical, or, to put it as a non-rhetorical question:
"Why is it acceptable on any level for my car to become a spyware device on par with Facebook, when I paid an enormous sum to be its owner and controller for my own benefit, and not to become a residual profit stream for ${CAR_COMPANY}?".
Because there's no law preventing it? Ideally there would be regulations making this illegal unless they get the user's consent at the time of purchase as well as allowing users to opt out at any point thereafter.
Many potential forms of ISP data collection are unlawful in the US thanks to wiretap laws, which is why we don't generally see this level of surveillance from ISPs here.
I have been living under a rock the last ten years so I thought the EU still had the data retention directive. Between 2006-2014 all ISPs were required to logg traffic in the EU. I am so glad you are right!
