So we all give up our privacy. Activists, judges, journalists, potential whistleblowers and so on.

Then... the current power structure will just accept disruption to their system because it's the right thing to do? They won't use their intelligence advantage to maintain the status quo? They won't use their mass of information to slander and render ineffective any opposition?

I don't think that's realistic. Rarely has that happened in practice; often people go overboard trying to suppress dissent and change.