Tbh, that document reads like a discovery channel 2am aliens documentary, but it’s not completely without merit.
There are a couple line items about software services they’re using that are shitty that sound pretty legit. The fact that they’re operating in locations where they might have to hand over data sounds pretty legit. Their warrant compliance and logging/handing over a person’s IP address is legit.
The CIA honeypot stuff is all really circumstantial. If the CIA was in as deep as is claimed, a lot of the real evidence people are turning up that they’re not a secure as they could be would be unnecessary.
My best guess is they decided to make an email company based in Switzerland with the schtick that they’re secure (banks amirite?) They’re doing what they can to appear secure without spending too much money. They’re not going to have legal battles to keep your data private, and they are going to comply with agencies request for data. Even if they support end-to-end encryption if they are required by an agency to turn that encryption off for you, they’re going to do it.
They’re probably less likely than Google or Microsoft to sell all of your data to the highest bidder, but realistically there’s no such thing as secure email.