Curious if someone just cloned Trello, could roughly offer what they offer scale wise. But said "we don't store any of your data". Not sure how, maybe encrypted

Curious if someone just cloned Trello, could roughly offer what they offer scale wise. But said "we don't store any of your data". Not sure how, maybe encrypted at rest so it's not possible for them to gleam info... Would that still be profitable somehow? Not sure if data storing is where most of the money comes from, specifically Trello. I use Trello too now having doubts if I should detail out aspects of my life. Admittedly I have built my own note-taking type apps however can't deny the interface of Trello so convenient.