My experience says that this is pretty far from the truth, and nobody is really struggling with any of this stuff. It's all been "yeah I guess we have to pay attention to privacy, that's a bit annoying" and then getting on with it.

What you're saying basically boils down to "if we stop worrying about user data then we can make more money!" which… yeah, I guess. In the same way that companies could make more money if we let them pump effluent directly into rivers – but we don't do that.