Only if the signal crew collectively fell down, hit their heads and forgot about their whole mission of protecting metadata privacy. Matrix is a privacy nightmare (compared to signal). It offers optional encryption for the actual text of the messages sent, but everything else from room membership lists to reactions are unencrypted and stored forever by the server. The end to end encrypted message feature was bolted on after the rest of the thing was built, and it shows.

We’ve seen https://signal.org/bigbrother/ where signal proudly shows that they don’t have any metadata about their users to turn over. There’s a reason we don’t see anything like this for matrix.

Matrix is good at federating, but fucking horrible at keeping your information safe.