When you give up a small piece of seemingly insignificant data about yourself a million times per year, the aggregate is wildly more significant than the sum of those pieces. When you and everyone you know give up the aggregate of each persons aggregate information, again, its value is compounded. Finally, since no one has any insight into nor control over where their data ends up or how it's used down the road, the danger of sharing is even less evident.
Good can and does come from transparency, but this is one-way transparency. It's top-down and is begging for abuse. If we had a truly voter-representative government, it would have already created laws to mitigate the easy-to-anticipate problems that arise from massive accumulations of personal information, and we would no doubt have a better, if less profitable, WWW as a result.