If you are using any wallet without connecting to your own node or server, the server you connect to knows your BTC addresses and IP addresses, so for privacy you have to connect Ledger live to your own node, or you just forget about Ledger live and use Electrum with your hardware wallet and connect to your own Electrum server, this is the only way you get privacy.
OK, so it is true then that if you use Electrum (or Sparrow I heard?) and just stay away from any coin that doesn't have a 3rd party wallet that can interact with the Ledger in place of Ledger Live, Ledger can't see your IP address? The first part of the above statement seems to say the opposite, whereas the second kind of says that explicitly. From my scant knowledge of even the basics of how wallets and everything else interact with the internet (I know, I'm as good as fucked) it was always my understanding that avoiding LL was the solution to avoiding Ledger updates--especially the one introducing Recover--but when I fooled around with my Ledger I never really considered IP addresses.
Jesus. By the way, I don't think I mentioned that I used to be a fan of Ledger despite the warnings by dkbit98 in particular but now have turned 180 degrees....so that makes me an anti-fan, I suppose. Anyone buying used Ledgers? Lol.