By using the app you can still edit/delete the image. Videos aren’t supported by the shortcut. It’s a super simple shortcut, but using it means you can upload the image/s via share sheet and automatically get the url in your clipboard.
Genuine question: since the images are public either way, what’s the main concern regarding privacy? Having the app on your phone? Imgur getting information about people viewing the image?
I prefer not to use that specific service because they block viewing access to Tor users, so they end up not being able to see images that are hosted on that site.
It’s definitely more convenient, especially if you don’t want to grant Imgur access to your entire photo library (which I don’t). It’s super annoying how many apps still require that, even when there’s a system image picker available that‘s better in every way.