But that's not the scary part.
The scary part comes later, due to massive increases in computing power. Imagine a world where, say, computers with terabytes of RAM and thousands of high performance cores are run of the mill server systems. And then it's not just a matter of people storing data but analyzing it, and collating it, deeper than we think is even remotely conceivable today.
Face recognition, voice recognition, biometrics, kinematics, writing style, and of course metadata will make public an astounding amount of information. A video of a random group of strangers will be trivial to index and identify every individual through the above techniques. A shockingly detailed account of everyone's lives, where they've been, who they've met, what they've purchased, and so on will be determinable using, eventually, relatively little cost in computing power.
Here's an example, let's say there are only a handful of pictures or videos from inside your apartment, imagine if every book on your shelf, every knick knack, every belonging was automatically identified and indexed. It's a world that rapidly spins away from any sort of world we're comfortable or familiar with but we probably won't figure out how to deal with it until well after we've been subjected to the worst abuses and invasions of privacy.