As we've said elsewhere, the only way to guarantee the privacy of your screenplay is to write it with paper and pen and lock it in your drawer.
We've purposely not built any administrative features that would allow an admin to view our writer's screenplays. They're stored in the database in small pieces, so even randomly scanning through the tables only shows a fragment of a screenplay at a time.
The major advantage of Plotbot is the ease of collaboration with other writers. Most screenplays are written with other people, and we make it very easy to keep track of who wrote what when, and to navigate between those changes.
For solo writers, we do offer the convenience that your screenplay is available wherever you have a browser and an internet connection, as well as the assurance of versioning and backups (every version of everything you've written through Plotbot is available to you).
I am working on a new screenwriting tool which will bring the writer experience on par with desktop applications like Final Draft. It will remain web-based, and it will combine our versioning and permissions strengths with a much easier-to-use interface.