This is not overhead. Telemetry is collected anyway, but when disabled to sent it, it simple doesn’t sent.
Nothing related to the overhead, just the decision, do you want to help or not.
I think, especialy for this type of service, that is based on a decentralized network with so many configurations, is very important for developers all the feedback and statistics from the nodes, they can get. Is much more easy to tune things when you have more realistic and real time data about the effects of your tuning. And I believe that the mentioned telemetry is not so resource intensive, in a way that would have a visible impact on a node. My advise is to let it on, to be sent to Storj.