They need much more contributors though.
Additionally I'm not entirely sure how to split out all the different things to track with regard to privacy, which is why I think it's a big project. But I see a need, and I think someone could do well for themselves filling that need.
They could have an expanded version with more details, which satisfies both goals.
Unfortunately, I'm far too burdened with commitments to do this myself, so it's more a call to arms than a statement of intent. :/
If you want reliable protection, you eliminate or block those mechanisms which expose information to others. You could create a matrix which identifies different types of exposures and shows which can be avoided when using a given product or service. It would be a major task though, because technical details that are often not well documented can have a big impact on exposures. You couldn't afford to miss something like a user identifier that accompanies phoned home data.
The whole point is making it easy to judge how companies interact with their customers in regard to data and privacy so market pressure can do it's thing.
Maintaining it would be a pain. I'd like to see each company maintain their own table of terms and policies.
Other than maintenance, I'm concerned about how conditional sharing would be expressed succinctly... of course it's just a watered down version but you'd have to do it carefully.
The first step would be getting a formalized set of metrics, which is in itself a bit project. Once you have that, a framework to crowd source the specific answers from users (hopefully with references to a TOS/Privacy policy section) would be the easiest way to keep it up to date. Allowing comments and annotations for further info on a specific company's rating for an item that could be expanded would let people drill down on the details.
This is extremely important. Right now we have an extremely inefficient market with respect to privacy. Users don't know what policies companies have, and even if they know where to find that information, it's extremely inaccessible. Making it easy to compare services would allow users to actually distinguish based on this metric, which is the first step towards pressuring companies to actually compete on this metric.
Simplistically, this could be achieved with a set of data policy components (account information, login information, purchase information, location information, various activity information items, etc) and their policy on them in well defined terms, such as Not Applicable, Does not collect, Collects but does not share, Collects and may share, Collects and known to share. That would be the start of something beautiful.