It is however point-to-point plus doesn’t go over a public network and the routers of “random” 3rd parties (as IP does not necessarily route your packets always via the same path, and NNTP - the e-mail protocol - is even worse).
Faxing is probably is inherently more private simply because generally there is just 1 company controlling the entire network it travels through (i.e. the phone landline network), though I would hardly call it secure.
Properly encrypted e-mail is more secure with regards to the contents but it leaks metadata (that there was a message of a certain size from a certain sender to a certain receiver at acertain time) to a lot more 3rd parties than a fax would.