No, it’s not at all. Your words are pure FUD.
Read our blog where we explain in details - and in non-that-technical words.

We have always strived to have an honest relationship with our users, and we will continue to do so. Currently we do not make any money from this relationship but it is an experiment as to whether we can fund our security products indirectly instead of nagging our users to upgrade. As most people are aware, most all products we use every day—Chrome, Facebook, Firefox, WhatsApp, Gmail, etc.—are indirectly funded by advertisements. In most cases though, the products directly examine what users are doing and provide them targeted advertisements. Although we suspect some security companies are doing this, we do not believe it is the proper approach. Instead, we think that this anonymized, aggregated approach is much better to maintain the trust relationship that we think is so important between us and you, our loyal users.
Vincent Steckler, Avast CEO

Vlk, Avast CTO, talks about this https://forum.avast.com/index.php?topic=171725.msg1218988#msg1218988