how dial-up worked, and saw that it was still possible to set up in modern-day; so it got me wondering what the privacy implications would be if I hypothetically were to use it. I imagine it would be terrible!
Actually we would be way better if anyone was still using a 56k dial-up. Just think about it, with 56k websites couldn't store 2000 different cookies and run 30000 XHR requests to 3rd party analytics companies as it would take more time to get them than actually load the content. :)
Either way the fact that you're running on a dial-up doesn't mean your connection isn't secure, PPPoE can be used in the same way is used for FTTH links and it allows IP security features like authentication and encryption to be implemented.