> Privacy and transparency are hot topics right now, and knowing what goes into your phone is critical

At this point, it is basically assumed that pretty much anything coming from the App Store is safe.

Maybe your app updates in a way you don't like (e.g. Instagram's latest redesign), what are you going to do? Not update ever again? There is no safety concern here, and if TOS or privacy policies change within the app, you have to agree to them again so they'll let you know.