Apps that allow linking to the app in text (Good/Bad idea?)

Let's say you have the Alien Blue app installed on your phone. You can choose to allow it access to the phone's text (I don't know how to word this) so when someone texts you to "check out r/pizza", the app tells the phone to detect when people use /r/ or /u/, etc. and links it within the messages app.

Then clicking on the link will direct you to the sub.

This could work for other apps as well. But anyone think this is a good idea? Or would it be a privacy issue?