Sure, this is true, but what is your threat model here? Mullvad has been around for close to 15 years and has recently been audited for security and privacy - to my knowledge they have no history of (being able to) share information with ISPs/advertisers/other authorities. If you want anonymity, use Tor. If you want to make sure that your ISP or Disney don't come knocking whenever you're torrenting, or you want to avoid your non-SSL-connections being snooped upon by the network admin of your coffee shop, use a trusted VPN.
