My VPN provider is not - but is obviously subject to their local laws. Which are almost certainly also not good for my privacy either.

Spreading the threat across two different jurisdictions is without doubt "somehow better" than just using my ISP, at least in the case of protection against snooping by non serious crime law enforcement.

(Where I am, organisations like local councils, the taxi commission, fishing inspectors, and dog catchers - can all access our "mandatory telecommunications metal data retention" stuff with very little oversight... While my VPN is still in five eyes, so there's no point pretending national security, intelligence, or serious crime like terrorism/drugtrafficing would have no trouble getting cross jurisdictional access, I'm pretty sure the fishing inspectors or dog catchers won't have that sort of access.)