Tech is a genie out of a bottle. Each tech that gets in the wild isn't going back in the bottle. We are thus faced not with a choice of whether or not this tech exists, but how we are going to use it - or be subjected to it.
I reckon you and I both see clearly that it is unwise in the extreme to let Fakebook or Goolag deploy this tech to gain them more power, economic and political. But you and I had better figure out how to use this to better ourselves, because those outfits sure are going to, and if we don't we're going to be less powerful and competent in relation to them.
We will be creating a situation in which we are essentially subhumans, lesser beings, and history is replete with examples of what happens to a group of people that are regarded as subhumans.
We need to seize the bulls of modern technology, from earbuds to CRISPR, by the horns and master them, or we will be mastered by those that do because they will be more capable and powerful than we are.
Thanks!