That's true, but I would argue it's counterbalanced by modern apps being (for the most part) always online. While we have more control over what data they can access, there are far worse things they can do with the data we do choose to share.
In the pre-internet days, I could write my sensitive documents in a closed-source word processor and pretty much the worst thing it could do was silently corrupt or alter my file. Now, a sufficiently malicious word processor could very easily upload a copy to its developer's servers, and make such activity nearly impossible to detect as long as it had a legitimate purpose to phone home.
