The free availability of the data that is on the blockchain is a blow to the heart and soul of surveillance companies.
All data will exist. When it's kept from the public, it becomes commoditized. Being free means it's ours--each of us can access our own data--as much as everyone's. Can't be used for blackmail, or various other nefarious purposes.
I'm a strong advocate for the people data is generated by being the owners of the data. A good first step towards that is making it available to us. Hopefully, the rest will follow.
Privacy, IMHO, is pretty much a thing of the past. Technology won't allow it. Not much we can do about that except not generate data. That's mostly not practical. Fakebook was just after our medical records. They have data on non-Fakebook users.
Steem won't do that. For these reasons Steemit is vastly superior to all other social media platforms regarding privacy I am aware of.