Snapchat privacy policy worse than the NSA

At this point, we all know that SnapChat is coded by kids who are definitely not master cryptographers, let alone competent software engineers trustworthy of securely handling communication data. But what about the fact that their "privacy policy" reads more like the NSA collection policy? http://www.snapchat.com/privacy/

Not only are they collecting my location information (which has no relation to their service) they are recording when each Snapchat was sent and to who I sent it to. Frankly, that's not required of them, and I'd rather they did not. At least give me an option there. Then they go on to say they have cookies and other tracking technologies tracking my phone usage to give me relevant info. Snapchat isn't Google adwords - there is no relevant information to their service. They send snap chats. So a) they are lying. And b) I have a computer science degree and I can't figure out what the heck they are talking about. Aren't cookies on web browsers? But say they are just talking about their web interface, which basically no one uses, it makes me wonder why they are so aggressively tracking my internet usage when they have nothing to provide me (not even ads, apparently they will soon, and they’ll be very targeted!). But it gets even worse. Aside from the blatant lies about providing us better service and answering our emails, which doesn't require spying on us, they are apparently self appointed law enforcement officials who wish to "Detect, investigate and/or prevent fraudulent, unauthorized or illegal activity". Really? How exactly are you going to do that? I knew you weirdos were opening my Snapchats. This is why profiteering money hungry children, who copypasta code from ios books should not be at the helm of a mainstream "privacy phenomenon".

Let's take these guys on in an open source, trustworthy, and legitimate fashion. Who's with me?