What the privacy measures are doing is giving the user the ability to review requests for access to your personal data by parties you aren't already trusting by virtue of owning the device.
If, for example, you don't trust Camera with your location data you also need to be concerned about having cellular networking enabled and making sure that Apple's WiFi interface, crash report, software updates, Music/Books/TV, etc. don't share that same data or things like IP addresses which are often effectively the same.
Remember, this is only about code which ships in the OS. If you look at the apps which Apple ships through the app store, they do follow the same controls: my “Apple Store” app only allows location access while I'm using it, I can disable background app refresh, etc.