It collects information about almost everything you do in the app, and since there's no e2ee, that includes seeing every single message you send, which is great for moderation, not so great for privacy, especially in case of a breach.

There are plenty of people who support discord, I've been a nitro user for years, I just don't think the service as a whole should become shittier just because not every single person pays for it. There are also concerns about its desire to go public, since there's almost always more enshittification leading up to a company becoming public, as well as after.