I agree with your stance there. Further - the conventional opinion is that the power imbalance coming from the information imbalance (state/business know a lot about me; I know little about them) is that us citizens and consumers should reduce our "information surface" towards them. And address the imbalance that way. But.

There exists another, often unmentioned option. And that option is for state/business to open up, to increase their "information surface" towards us, their citizens/consumers. That will also achieve information (and one hopes power) rebalance. Every time it's actually measured, how much value we put on our privacy, when we have to weight privacy against convenience and other gains from more data sharing, the revealed preference is close to zero. The revealed preference is that we put the value of our privacy close to zero, despite us forever saying otherwise. (that we value privacy very very much; seems - "it ain't so")

So the option of state/business revealing more data to us citizens/consumers, is actually more realistic. Yes there is extra work on part of state/business to open their data to us. But it's worth it. The more advanced the society, the more coordination it needs to achieve the right cooperation-competition balance in the interactions between ever greater numbers of people.

There is an old book "Data For the People" by an early AI pioneer and Amazon CTO Andreas Weigend. Afaics it well describes the world we live in, and also are likely to live even more in the future.