They do, but I don't think that would apply to Immich. Immich is under the AGPL, and hasn't taken on any FUTO licensing. In a QA they did awhile back they said there was no plans to change it as well, so should be AGPL for the long term.
As far as I've seen, the only connection that Immich has with FUTO is the $1M grant and continued development support. I would imagine any sales from these Immich server purchases are now obligated to go to FUTO, but that's the only connection between the two companies.
Privacy is a marketing angle right now for sure. I hate seeing companies like apple advertise to the vague privacy concerns of the general public. Companies like Proton are also making money based on privacy concerns.
As far as I've seen, FUTO's approach is to fund and support independent developers who have a high skill level and well thought out piece of software. They focus on software that is Open, or source available for auditing and viewing purposes, privacy respecting and free of any kind of advertising. They also are pushing for a new culture of payment to these developers that is not a donation to support, but a purchase to use. They don't insist on the purchase though, you can use any piece of FUTO sponsored software free of charge indefinitely.