I'm now assuming the part they don't like is §10.4(ii):
> 10.4 Customer License Grant. You agree to grant and hereby grant Zoom a perpetual, worldwide, non-exclusive, royalty-free, sublicensable, and transferable license and all other rights required or necessary to redistribute, publish, import, access, use, store, transmit, review, disclose, preserve, extract, modify, reproduce, share, use, display, copy, distribute, translate, transcribe, create derivative works, and process Customer Content and to perform all acts with respect to the Customer Content: [...] _(ii) for the purpose of product and service development, marketing, analytics, quality assurance, machine learning, artificial intelligence, training, testing, improvement of the Services, Software, or Zoom’s other products, services, and software, or any combination thereof_
Notice that 10.4(ii) says they can use Customer Content "for ... machine learning, artificial intelligence, training", which is certainly allowing training on user content.
> Service Generated Data; Consent to Use. Customer Content does not include any telemetry data, product usage data, diagnostic data, and similar content or data that Zoom collects or generates in connection with your or your End Users’ use of the Services or Software (“Service Generated Data”).
Notice that Service Generated Data quite explicitly doesn't include Customer Content.
On the contrary, it says Customer Content doesn't include service generated data. So you don't have rights to the telemetry or anything else they collect.
It does not say Service Generated Data doesn't include their own copies of customer content, which could be a part of "data Zoom collects .. in connection with your .. use".