I found some documentation. This is supposed to be an enumeration of all the data that the _application_ collects from the phone. It's surprising to see that the app is collecting health data, presumably the phone prompts a person to grant the permission when they try to fetch that data.
If, as you say, this covers all data "used" in some manner by all Meta apps then I think this is a clear misuse of the policy. Providing a list of labels that includes literally every label isn't helpful to the person deciding if they want to continue using the application or not.
In any case, if Threads doesn't collect health data then, IMHO, the privacy label shouldn't be listed. By Meta's own admission, their app collects this data and posts it back to Meta.
If, as you say, this covers all data "used" in some manner by all Meta apps then I think this is a clear misuse of the policy. Providing a list of labels that includes literally every label isn't helpful to the person deciding if they want to continue using the application or not.
In any case, if Threads doesn't collect health data then, IMHO, the privacy label shouldn't be listed. By Meta's own admission, their app collects this data and posts it back to Meta.