Strange isn't it.
We accept and are happy that "other people - who we don't know"
Can access our bank accounts, our passport information, our pension information, be able to get into our cars if needed, be able to get into our homes if needed, examine our wages, probably every single thing about you, data wise we accept as being able to get to, by "the right people"
Yet our phones OMG Nooooooooooooooooo.
But if we lost our house or car keys, would be demand it impossible that anyone could help us get back in again?
You totally miss the point of all of this. For LEO to access each of the items you listed, a separate and approved warrant is required. The smartphone has now offered all that information in one place. One stop shopping AND without the need for separate approved warrants. Instead they can have one warrant to examine one thing on your smartphone and have access to everything else by default. Everything. A universal key to your life. That has serious legal, ethical, and civic issues.
You want to better understand? Take a civics course; one that slants toward personal instead of business. Though that is a good option too.