I hear this argument a lot but I think it is exactly OPs point when he says, “The market can’t act against what it can’t see”.

Your average consumer doesn’t know the extent of what they’re trading. Take Facebook, even with high profile stories and documentaries it’s reasonable for your average consumer to assume that what Facebook tracks about them is what they actively give to Facebook themselves.

I’ve had conversations with people that say, “I rarely even post on Facebook” and “If they want to monitor pictures of my food/dog/etc whatever who cares”, without any solid understanding of what even having the app installed alone is giving Facebook.