Recall actually sounds like it could be useful but there's a snowball's chance in hell that I would trust Microsoft to not spy on me.
I don’t plan on using the feature and I don’t plan on using Windows much longer in the first place, but I find that going beyond the ragebait headlines and looking at the actual offering and its privacy policy and security documentation makes it look a lot more reasonable.
Microsoft is very explicit in detailing how the data stays on device and goes to great lengths to detail exactly how it works to keep data private, as well as having a lot of sensible exceptions (e.g., disabled for incognito web browsing sessions) and a high degree of control (users can disable it per app).
On top of all this it’s 100% optional and all of Microsoft’s AI features have global on/off switches.
On the contrary, you could trust it 100% to spy on you. That's the whole reason that functionality exists.