I think your statements are pretty biased and I think you should read the article more carefully.
The article states that Warden, or whatever programs it is, has the possibility of sending information from your system. You can say that, yes, a Blizzard employee can access information from you system, but in reality, a good hacker only needs one hole in any application the accesses the internet to get into your system. It was proven that a hacker was able to hack into an Apple computer, otherwise notoriously known not to contract viruses, through the Quicktime application in just 11 minutes. The risk of your information from leaking from this program is probably just as great as you shopping online with a credit card.
Yes, I don't approve of this feature, but, in reality, the risk of playing WoW is probably no different than say Internet Explorer.
Edit: If you also read, the comments on that page, they bring up some good points.
Blizzard already has your: first and last name, your credit card number, your address, and your e-mail. So in reality, you've already given out majority of your personal information right there, what else would they need to take?