I would be completely unsurprised to find that other than having the data in some poorly secured database it isn't used for anything useful.
“...But don’t dismiss malice.” Dismissing reasonable concerns about a nearly universal practice is best done through reasoned argument, not aphorism.
Does that make it malicious and stupid?
I would be completely unsurprised to find that other than having the data in some poorly secured database it isn't used for anything useful.