You're not going to have to hunt around in the settings to consent to telemetry, no, but we're also not going to collect without consent. We're in the early stages, so this is subject to change. Still, our design team shared this mockup that may help visualize the direction we plan on taking if we move forward with a customer-facing rollout of telemetry.
I'm no longer a 1Password user due to a number of extremely user-hostile behaviors, but credit where it's due -- this mock-up, if implemented, will be far better than I feared.