No, it really doesn't. "Bad people might use it to do something I don't approve of" is a terrible rationale for not creating something, mostly because it's almost always true. Strong crypto is great for terrorists. Psychology research is wonderful for propagandists in dictatorships. Unlocked cell phones are very useful for drug trafficking rings.
If we, as a species, refused to innovate when we weren't sure of the consequences, we would still be arguing about whether fire was a good idea.