While I've heard rumors it was unsafe in the past (requesting too many permission etc), I'd think that if PayPal bought it, they would at the very least make it /safer/ than it was before.
Maybe /safer/ doesn't get us all the way to safe, though.
Well, as with almost everything in the privacy/security space it depends on your threat model. From a standpoint of "every startup is one bad pivot away from doing something stupid if their business model has bugs", PayPal is indeed somewhat safer long term.
PayPal themselves are in some folks' threat models (they've mismanaged a few things over the years), though.
Maybe /safer/ doesn't get us all the way to safe, though.