Can kube-multus container run unprivileged with capabilities set?

Hi Experts,
i see in multus-cni/multus-daemonset.yml at master · k8snetworkplumbingwg/multus-cni · GitHub kube-multus container in node-local-dns runs as privileged container.

    securityContext:
      privileged: true

This can be a potential security threat. Can this pod run unprivileged with capabilities set?
In that case what would be those capabilities?