Also, as an aside, the add-in records the following things: country, age, gender, language etc. and the text of the ad. Not so clear what happens when ads have personal info (or friends' names) attached like xyz likes page. Payload seems to suggest they take every bit of info so it could include that as well maybe.
If the users are opting into this, isn't that the same argument for letting them opt into the Facebook platform itself? Why must we protect them from NYU and not from Facebook?
How is it stored, is it secure, how do they anonymise it, who has access to the raw data, what happens when there is a break, is there monitoring, etc etc etc.
They are making a massive honey pot, and we just have to trust them that they are doing good job. (much like facebook....)
Again, the issue isn't the collection, its the storage, processing and disposal that really matters here.
That you can say about almost all web apps? Then almost maybe you shouldn't use the Internet, I start thinking
You can download a release straight from there and import it into your browser. Browsers also do some reviews of the plugins that are in their stores, so every update should be tested by both Google and Mozilla (even if only superficially).
I'd say the odds of them managing to pull off scraping anything else without anyone noticing are rather slim.