Looking at the code, it looks like there will be an option to disable Google telemetry. Not good they put "etc" in what information they're collecting though.
static const auto title =
/* i18n-hint: Title of the telemetry permission dialog */
XO ("Help us improve Audacity");
static const auto firstParagraph =
/* i18-hint: The first paragraph of telemetry permission dialog */
"We would like to collect anonymous usage data to \
help us prioritize improvements and making Audacity \
better in the future. This includes things like \
frequency of use, preferred file formats, crash logs etc."