I'm interested why this made a difference to you. If you are concerned about sharing code with Bloop/OpenAI, isn't sharing code during use as bad as sharing it at index time? The more you use it, the more of your code will be exposed...
Only code in the search space is. If it were an "index in the cloud" product, one mistake and I lose the codebase. If it is a "query exposes a portion", a mistake in where I use it exposes a piece.
If I can contain the blast radius of my errors my error budget is more available.