When the product involves selling my data to anyone, including bounty hunters, how does having multiple competitors benefit me? Unless I’m the one buying data on someone else?

The first point sounds like a defeatist mentality (of course assuming we share the ideal of our location data not being sold and if possible even stored) - at what point would we be able to push companies away from using location data if we are afraid it will make the others more powerful?

Sure "unmask" their motives, but it's also worth considering if their actions are a net good or not.