They could track you from venue to venue, without your even connecting to the wifi. They could see how busy a restaurant is at any time based on number of smart devices with wifi, they could infer demographic data based on device id, etc. etc.
They could probably correlate this with other data sources to 100% identify who you are and target you.
It's good for business owners if they surface this insight to their audience. It's bad for business owners because previously Yelp has been notoriously a bad actor in the space and can't be trusted.
It's good for business owners that want a great interface and offer wifi that might also better the experience for their customers.