It sounds very similar to a VPN service.
As we all know, there are also some other browsers that offer VPN services, but this
.
When you enable thisyour IP address is hidden so that no one can see your actual location.

All traffic is directed through one of Cloudflares servers to protect your exactness.
You cant say it completely VPN because you cant switch your location to somewhere other.
There will be 1GB monthly of free bandwidth for the Secure connection feature, and it restarts every month.

So it can only stop collecting your browsing data by your internet service provider.
Also, Microsoft assures that diagnostic data related to the service is only kept for 25 hours.

