It's not though.. because of how it works. When you enable online searching, it sends those searches off to Ubuntu's servers and 3rd parties.. and Ubuntu explicitly says they will collect and store everything you type into the dash along with your IP address.
And because of how central the dash is to Ubuntu... it's a huge piece of spyware.
Depending on whether you have opted in or out (see the “Online Search” section below), we may also send your keystrokes as a search term to productsearch.ubuntu.com and selected third parties so that we may complement your search results with online search results from such third parties including: Facebook, Twitter, BBC and Amazon. Canonical and these selected third parties will collect your search terms and use them to provide you with search results while using Ubuntu.
By searching in the dash you consent to:
the collection and use of your search terms and IP address in this way; and
the storage of your search terms and IP address by Canonical and such selected third parties (if applicable).