Viewing the compact tree of an unlisted profile shows this message:
“Note that the privacy settings for Jane prohibit this display for those who are not on the Trusted List. If you would like to share this tree view and you're the Profile Manager, click the Privacy tab on the profile. From there you can select "Private with Public Family Tree." This will enable their tree to be publicly accessible. Private people in the tree will still be protected.”
But this is no longer the case since nonmember living unlisted profiles cannot have their privacy status changed.