No, this is actually what Apple does. See above. It's in their privacy policy.
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They aren't an ad company like Google is. They were, with iAd, until nobody wanted to advertise on there
because Apple wasn't giving them enough user data.
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Backups aren't end-to-end encrypted.
https://support.apple.com/en-us/HT202303
They can't end-to-end encrypt anything you'd need to access again after resetting your password without a device on hand. If a password reset capability is there, then Apple has a way in too.
This part on iMessage is also interesting. I hadn't seen it before.
Overall, I'm happy with Apple's stance. They're very clear about how they secure your data. They're clear that they can't feasibly prevent themselves from accessing some of it.