Well these kind of companies are great at finding loopholes. Not sharing data and not consulting using your overall understanding of the playing field is different. And in most cases the latter means “refined understanding of statistical analyses” which is what most other companies needing data will be interested in.

I do agree that their main business model is analysing data for clients but that does not mean that they can’t generate more revenue by other means. It seems like many big tech companies have a facade of a service that they provide but they have a lot of mechanisms behind the service that generates revenue for them. See Facebook, twitter etc whose data/platform has been used countless time to steer political decisions (unfortunately used mostly by right wing organizations).

most likely drive away a lot of their clients.

You would think so but today there are still left leaning politicians, academicians etc using twitter, about a year after Felon Musk started extreme right wing fear and war mongering. All Palantir needs to do is amass sensitive and critical data across many different fields and consult interested parties (without breaking any of the contracts so they are not liable). It will be ages before they will start losing enough clients that their main business model will become unprofitable. Anyway, by then they will likely have enough money/influence to hop anywhere they want.

I know this is all circumstantial so I will finish by adding one more circumstantial data. Look at the picture below and tell me Palantir will play fair with all the extremely sensitive knowledge it gains across defense, health, energy, transport etc