I've re-read their whitepaper and while there is some data one may consider sensitive, it's not something like "user tracking and reporting" beyond the performance metrics and search suggestions (which all other major browsers do as well). There are optional features which may result in private data being sent to Google, e.g. keeping history with Google without local encryption - but you have to opt-in, which feels OK to me.

https://www.google.com/chrome/browser/privacy/whitepaper.htm...