I think the idea of financial transparency should be more discussed at any level. Yes, there will be loopholes, but now the default is "money is secret, how dare you!".
I would claim that democracy was an ideal at any point in time. Most people have/had insufficient education to understand all the topics. Even in more advanced countries (with better education on average) the discourse gets focused on petty issues. The societies that will be able to focus on the longer term will be the next centuries winners!
To be clear: I agree. There is no reason that citizens shouldn't be able to inspect every document produced by their government, listen to any conversation about any topic that involves any officials, and no reason not to extend this regime into the so-called "private sector", which is -- legally and historically -- a creation of the state, not the other way around.
If you don't like that intrusion into your finances, you are still free to do business using your own personhood, but the public won't provide you with a spare disposable one.