I am sure the Dutch didn't think recording the religion/race was a problem. Until it was. Took some work to limit the damage [1]
[1] https://en.wikipedia.org/wiki/1943_bombing_of_the_Amsterdam_...
What will really happen is that we find out that there are millions of LLCs owned by a few corporate investment offices that are driving up the price of housing for my fellow citizens, actual human beings who I value far more than any legal fictions.
Anyway, just to paint maybe some more realistic threat models: Swatting. People suing rich people to get "go-away" money. Targeted robberies or abductions.
Privacy is a right, also for rich people. For any information that is private, I can find a good reason for it to not be private.