In addition to tracking the printer’s online or offline status, page count, and ink levels, your rented printer will look at the types of documents you’re printing (e.g., PDF, JPG, Word), the types of devices that initiated the print job, “peripheral devices,” and other “metrics” related to the service, the All-In Plan’s terms read. This is on top of the personal information HP collects upon initiating the plan, like your location and your company name (if you have one). By signing up for the service, the terms say, you “grant to HP a non-exclusive, worldwide, royalty-free right to use, copy, store, transmit, modify, create derivative works of and display [your] non-personal data for its business purposes.”
The mere fact that HP is demonstrating they can do this, even if they pinky swear they won't do it for corporate or business clients means that any business worth their salt will avoid buying HP products.