If you don't trust Microsoft then yeah I can see why you wouldn't want this feature but you probably aren't using Windows in that case anyways, so it is a moot point.
What may be a moot point for me is not a moot point for millions of users. This feature seems to be enabled by default and needs poking into settings to disable.
Microsoft have proven time and again, by their acts and omissions, that they can't be trusted.
Relevant quote from the source: "During testing this with an off the shelf infostealer, I used Microsoft Defender for Endpoint — which detected the off the shelve infostealer — but by the time the automated remediation kicked in (which took over ten minutes) my Recall data was already long gone [ie. exfiltrated to a bad actor's device]."
If the answer is anything else than "yes, I'm the absolute world authority on that" then you don't know how or whether Microsoft is respecting your privacy (same reasoning goes for Apple, for Google, for mobile phone radio stack, …).