I thought that was the point

Only the `message` value is encrypted. All metadata is public, and your public IP's are logged at the relays. And the `message` value is decrypted by *any* party to the conversation's nsec, so even that obfuscation (not privacy, just obfuscation of a public record) can be undone without any fault of your own, by some other party leaking their key. To see just how bad DMs are, login using jb55 or someone else's npub and take a look at the Messages. You can see who, when, how often, who sends more messages, what time of night, etc.