Things that are good to understand, but also conclusions you can come to by just thinking a bit about how it would have to work. Some of it is less obvius, like session details. I actually don't know, does session info federate? Can't see why it would need to.
A sealed envelope still has to have recepient info, and while it would be possible to have the server forget a lot of info after delivery, you can't enforce that.
One of these is also an exaggeration, federation doesn't copy everything to every other server, only the parts of your activity to servers that participate in that particular activity.
If you chat on your matrix instance with another user on your instance, only your instance records the event.
If you DM someone on another instance, only your and their server have a record of that. Not every matrix server on the network, that'd be absurd.