Well the missing part is the dedication to ideals and to the greater good of all life that was supposed to be core to the federation. I realize Star Trek is fantasy, but the reason people are more at ease with the omnipresence of technology in Star Trek is because you see people living by these humanitarian and noble ideals. People fight and die to defend thems. The right to self and privacy and protection is held very high in the st universe, even if challenged.

When's the last time Google risked itself or business or any tech ceo risked their livelihood for the sake of the greater good? The problem isn't necessarily the knowing everything part, it's who does what with it that's the problem. I can't really think of any company or person with influence in tech that'd be willing to dive onto that bombshell to protect us all.