Facebook and Google want to collect your data and keep it. What they're selling is indirect access to you: the more information they have on you, the more precisely they can theoretically target advertising and content to you. Keeping the data they have on you to themselves is literally their business model.

Two points, though. First, of course, that's still essentially what's been dubbed "surveillance capitalism"; it's still something someone may be uncomfortable with for a variety of reasons. Your data is being indirectly monetized, but it's still being monetized, and you still have very limited insight into the extent of that data and how it's being used. Second, adtech isn't the business model of everyone who collects data -- and one could argue that the more businesses a data-collecting company is in, the more moral hazards pop up. How much data will Google give over to law enforcement when there's a warrant, for example? What if we see a Facebook Health initiative that allows medical providers and insurers selective access to what Facebook "knows" about you within the limits of regulations and the law? (Do you know what those limits are? I don't.)

I actually expect this more a reaction to Apple's pivot into health with the Apple Watch...

Expect what, privacy concerns? While I understand that, I'm not sure much health information collected by Apple devices ever leaves your "local ecosystem" (i.e., your personal set of devices). Also, the Apple Watch Edition notwithstanding, I'm not sure I'd say its original incarnation was positioned as a luxury product -- yes, you could pay $10,000+ for it if you wanted to, but it still started at $349. But it was certainly positioned as a fashion product at its introduction, which they've dialed way back on since.