You make a very valid point about the problem of too much information residing beyond the control of the people the data pertains / belongs to. I whole heartedly agree with you. I still welcome this step by Apple to reduce the stream of fresh data that is being logged by websites and sold to marketers. It is a step in the right direction even though I wish the step had been taken long ago.
I can think of a way to somewhat restore people's privacy but I don't think it will happen, and it certainly won't happen voluntarily. Pass a law that you own your own information that is about you. A company wants to pay you to use it, fine. But you know the terms and how the information is going to be used, and you can withdraw that permission if they violate the agreement or whenever the contract runs out. And no lifetime contracts. A law like that won't happen because too many businesses depend on access and they won't give it up.