The worst-case scenario of an average person spying on their friends is quite unlikely. There are much more effective ways to get that kind of information.
The <x id="START_LINK" ctype="x-a" equiv-text="<a routerLink="/about/peertube" fragment="privacy">"/>sharing system<x id="CLOSE_LINK" ctype="x-a" equiv-text="</a> "/> implies that some technical information about your system (such as a public IP address) can be sent to other peers, but greatly helps to reduce server load.
This instance allows registration. However, be careful to check the <x id="START_LINK" ctype="x-a" equiv-text="<a class="terms-anchor" (click)="onTermsClick($event, instanceInformation)" href='#'>"/>Terms<x id="CLOSE_LINK" ctype="x-a" equiv-text="</a>"/><x id="START_LINK_1" equiv-text="<a class="terms-link" target="_blank" routerLink="/about/instance" fragment="terms">"/>Terms<x id="CLOSE_LINK" ctype="x-a" equiv-text="</a>"/> before creating an account. You may also search for another instance to match your exact needs at: <x id="LINE_BREAK" ctype="lb" equiv-text="<br />"/><x id="START_LINK_2" equiv-text="<a class="alert-link" href="https://joinpeertube.org/instances" target="_blank" rel="noopener noreferrer">"/>https://joinpeertube.org/instances<x id="CLOSE_LINK" ctype="x-a" equiv-text="</a>"/>.