They earn billions on ad space. So, why would they give away the algorithm?
Also, comments pertaining to overthinking means you're going the right direction and leaving your competitors in the dust! Keep going this direction, and never look back. Anyone commenting otherwise is simply using this blog as a means to build link juice back to their profile account.
Why, you may ask? Because they understand that sending a URL with the word SEO in it to their account, and that juice sends to their website. You are starting to see how the comments with no insights are left in the billions on websites such as this and others! This is another form of affecting your SEO too.
Always consider the grain of salt being people understand these types of chats exist, they surf for it and put misinformation to cause the community to build bad SEO strategies or poorly based opinions with zero data to back it up.
Building trust with users, and Google, both play into your google analytics bounce rate and other things like session count.
Not only does it help your google rank across every URL, but it also increases your domain authority not only with scores - but also with humans too.
Also, ranking a key phrase of 'Your company name+Privacy+Policy' would increase the pages you're indexing, which increases your rank - Google also pointed out this Katamari effect of ranking more and more pages pick up more and more keywords and guess what - that ranking across all those keywords will increase.
Now - this isn't to say - go spam out a bunch of content on your website. That's what News companies do and this spreads their URL rating out from an 'internet parent/child' or category perspective. You can do that, it works for some companies, like Wikipedia.