Peer to peer works this way
The Register knows my IP address as well, when my browser client connects to the server. Peer-to-peer video calls would, by their very nature, also require disclosing one's IP address to the other peer. The workaround is to run traffic through an intermediary, which seems like what X is doing. How is this any different than any number of other Internet-related services? The Register hates X and Elon, I get that, but the fact that sniffing traffic from a peer-to-peer connection reveals the destination of the traffic is obvious.
Not to mention that knowing someone's IP address does not let you "physically" track them. The author needs to write more clearly and possibly gain a better understanding of how the IP protocol works. Not everything X does is malicious.