That's the thing - the data they've collected might be "fun," but now it's sitting on a server I don't control. In my case it might be innocuous, but when someone at the NSA can say "show me all the pictures of this guy when he was on the subway in the proximity of this other guy on such-and-such a date..." All of a sudden there are endless reasons for people in power to feel justified in going through our private lives.
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One person doesn't really even matter that much unless they're looking for something that only you have the pictures for. They have so many pictures from so many people. And what about the other companies? Which organizations have access to the databases of which companies? Even if they didn't have those pictures though, they have cameras everywhere anyway. But, with the combo, they have high def images of everything from every angle. They could build a pretty accurate 3D model of many places with all the images.
Right now we have to worry about overreaching governments and creepy corporations but the reality is that this is our future. Hopefully, as we lose privacy, laws will relax and we won't have to worry so much about these damned governments.