That is correct. And I think the same dynamics are at play with some of the other currently discussed topics. For example things like recycling and the switch to renewable energies. You as an individual can do something about it. And it'll make a difference for you and your life. And that's also enough for me to do it. But it doesn't really change anything in the broader picture. The rules foster egoistical behaviour. You'll often suffer and have a competetive disadvantage against the people who think about themselves first. That's why companies won't participate in making the world a better place, because they have to stay competetive. And also 90% of people are somewhat uneducated and just think about themselves.

I think regulation is the only way to tackle these issue. Yes, you can pay attention to privacy and do recycling. But it won't really do anything of substance for the environment or what companies try to do with your data. And it won't change the situation.