You are correct. The provider owns the IP and also VPS. They theoretically have the ability to do anything within those confines. Same thing with your nameserver provider with your DNS records and the domain itself with the registrar. There’s a certain level of trust that needs to be accepted for anything that goes outside the confines of your house. The good thing is those companies have more to lose than you by breaking that level of trust.
You are correct. The provider owns the IP and also VPS. They theoretically have the ability to do anything within those confines. Same thing with your nameserver provider with your DNS records and the domain itself with the registrar. There’s a certain level of trust that needs to be accepted for anything that goes outside the confines of your house. The good thing is those companies have more to lose than you by breaking that level of trust.