We've run the experiment for n decades with billions of subjects and the results indicate it is actually not that bad.
We have -not- really even discussed, much consider, the implications of having a central system with machine intelligence designed to extract features, patterns, emotions, assumed motives, ..., having access to the entire digital lives of societies.
Is it insane to repeat the same mistakes? Not sure but it's somewhere close in the neighborhood. We could run it by a k-nearest algorithm and see what that suggests as a better category than 'insane'.