And this (part of the link you provided) would apply to any debit/credit card transaction.
PayPal will simply mark your account as “closed” and you can’t get into it anymore, but it will “retain personal information from your account for a certain period of time” – probably forever – to do all sorts things, including “take other actions as required or permitted by law.” Yup, as permitted by law. It won’t do anything illegal with it. That’s the only promise. Alas, there aren’t exactly a lot of legal restrictions in the US on what companies can do with personal data.
PayPal is not going to do anything illegal with your information.
So when you find one of those 'hard to find' items on a site that may not be so secure (http connection only), it's either input all of your financial data & take the risk of it becoming stolen, or choose PayPal, which only provides the merchant the delivery address to send the merchandise.
In the 8-9 years I've used PayPal, have never had a single breach of my account. Not one. Even on XP/W2K computers while supported, and after W7 was. Nowadays I perform my transactions on Linux Mint only, and when accessing my bank, will use a burned, finalized DVD & boot into the Live media to access my account.
If one doesn't want PayPal cookies on their computer, they can do the same, I do myself from time to time. Plus I have a browser extension that deletes these cookies (even the LSO ones), in Click & Clean. There's also 'Self-Destructing Cookies' for Firefox users, that gets rid of these upon closing the browser. Some may see this take place when closing tabs.
When someone runs across a financial institution of payment method that doesn't collect information as required by law enforcement (to hunt down money laundering & other illegal activities, including tax evaders), please post the site so that we all can benefit.
The others, we just have to learn to live with, or order by snail mail, and even then, there will be many catalogs & brochures mailed to the residence or business. There's no avoiding spammers, other than going to the store & paying, and in the case of Newegg, the pick up purchase has to me made online (just like Walmart's 'Site to Store') & when ready, an email or text message will be received.
The only other option is to purchase locally where the prices are sometimes double over what Internet sellers has, and forget any mail-in rebates, these has to be purchased from certain retailers for this to be effective. Being on a fixed income, I'll keep shopping as I do, using PayPal as my preferred method of payment.
Their argument of having a staff to pay & other expenses are smoke & mirrors, one doesn't order online & the items doesn't pack themselves. Example, Newegg has 5-6 warehouses across the US (am unsure of Canada), and they have the same expenses, otherwise customers wouldn't get their merchandise in 3-10 business days (depending on the shipping method the customer selected). What those B&M stores fails to say is that many of these also has an online site, so that negates their argument. All businesses (local or online) has to pay taxes, utilities, rent, insurance, the cost of employees (to include payroll tax & benefits) & whatever else called for be local & State law. Many also have a sales staff, that's why Newegg & other merchants has online chat in regards to compatibility & other questions.
And like any merchant where paid online, to include PayPal, one will get some unwanted offers. It's up to the customer to discard any not wanted, and should any land in the Spam or Junk box, ensure that the party is unknown before trashing, sometimes a legit email ends in there.
There are some agreement(s) with any payment service used (even at a B&M merchant), we can live with it or not. I'm going to have the things needed/desired, with PayPal being my preferred payment method.