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The same as any mail company has today. Many large companies use 3rd parties for their mailing needs.
Postful doesn't currently do incoming email, just your outgoing.
Also I'm not sure how the law sees API systems. With Postful I'd use their API to automate various letters I have to send to my customers.
The "share with 3rd party" check-box in my view is separate to this. That would be PayPal selling/sharing my email to a 3rd party that doesn't provide a core service to PayPal. But if PayPal were to use Postful I wouldn't see that as being part of the "don't share with 3rd party" agreement.
Naturally Postful has to be reliable and responsible and I'd hope their printing and enveloping system is automated and not some Indian slave worker stuffing envelopes and reading my love letters to Paris.