Sure, but you can do a lot. If you pay a dedicated server or colocation provider to host hardware you own, they have a lot less access to your stuff than if you say, use a cloud VM provider, which is in itself at least better than using an SaaS-type solution where you're 1 database query away from fucked and with paid SaaS you're still miles better than free services where selling your data is the only means to pay for the service and to profit.

It really depends on what sort of tracking you're most concerned about though. If you're concerned about facebook or similar having your pictures and messages then a solution like this is a good option. Yes, your provider knows it's you, but unless they've invested serious effort backdooring your hardware, they can't tell what you send over SSL'd connections, they can't tell what people visiting that page are seeing and by and large, and most importantly, they don't care, they see no profit from that.