Depends on how you define it
I define malicious as anything that gets installed on my hard drive without my knowledge or permission and does what ever it chooses. Now, what this program searches for is what programs you have installed and then compares this to a list it has generated and then transmits information back to its servers. When it does this, does it ask you first if you want this to happen. My only encounter with this program was it did not inform me that it was going to be installed. It was my firewall that told me it had been installed and was trying to phone home. It does boil down to how you define what is malicious.
If someone gave you a new couch, would you allow them to come over to your house while you where not home and without your permission and go thru it to see what other pieces of furniture you had. I bet not.