Bitcoin isn't inherently a privacy coin; rather, it stands as a genuinely decentralized cryptocurrency. Your level of privacy is determined by the measures you take to safeguard it, given that Bitcoin transactions are publicly accessible. If I possess your specific Bitcoin address, I can still trace your activities. Bitcoin's objective is to establish a decentralized payment system, eliminating the need for third-party intermediaries.
Yes you are right the level of privacy who maintain in bitcoin transactions that is what makes bitcoin to be more private. So the privacy of bitcoin is determined by every individual, if one can can be private with wallet address and transaction details I believe their stands to be a better privacy. Bitcoin transaction can be traced but it won't be easy to locate people from the transaction details just like the banking system that gives first hand information of every individual.