Needed (partially) but far from being enough.
Let's say you are a big-edutech player, you have all infos collected by your platform on your infra. Even if children and families know what you have and "why" [1] they can't know you send an ads at a time small bits of information to drive the scholar path of talented children you plan to hire tomorrow or you try to push some students with political/philosophical ideas aside to avoid having them as active adults against you.
Long story short:
- we, of course, need personal ownership, the opposite of modern IT where most info are in third party "cloud" hands and users have just some modern dumb terminals "endpoints" to interact with third party services who own their digital lives;
- we of course need to know where our information go
but it's not enough, we need information fairness. OpenStreetMaps might have someone using data for certain business purpose, that's still fair, since anyone else can use and own the same data, it's a choice do it or not. Google Maps it's not. Google is the owner, others are customers.
If we share anything or nothing or anything else in between accessible to all or to no one, we are in a balanced situation, there will be some who takes better advantage than others because they understand how to do and they want to do so, but it's still a fair situation. Otherwise it's a recipe for a dictatorship witch we can more and more call "a corporatocracy".
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[1] a small anecdote: a leading Italian bank years ago decide to ditch RSA physical OTP to access their services mandating a mobile crapplication, I file a formal protest asking for GDPR information and aside noticing they allow operation from mobile, de-facto nullifying the third factor witch is against EU laws (largely ignored the PSD2 norm mandating a separate device for auth and operation), they answer me after a significant amount of time politely that:
- they do ask camera permissions because the app allow to scan Qr codes form various payment systems and for live chat (see below), for similar reason they need gallery access;
- they do want speaker because in-app they offer live audio-video chat assistance so their operator can talk with their customers while being able to see and act on phone screen;
- they need to access filesystem because they allow their customer to pay some bills sent via pdfs by mail or downloaded anyway from some portals, their app need to allow the user select them to being automatically processed;
- they need precise position and phone sensors to being sure it's me acting on my device and not a remote attacker;
- ....
Long story short there are gazillion of plausible reasons for this and that, but I can't know if there are ONLY such legit use of my information or not. I can't be sure even with mandatory AGPL on all systems, because I might have the sources, but no way to be sure their are the very same actually running on their servers.