> Ubiquitous banner ads, "free" 56k if you use our browser and click links, cookie bonanza, link hijacking etc... have been part of the web since day one.
No they haven't. I definitely remember the web before those were common, and it was great.
And while yes, the web was hostile back then, we also thought about it as hostile. There's been a definite shift in how the web is presented. Back then, we taught "Don't put anything personal online, it's all shady." But now, we want users to give us everything they can, and we've changed the language to allow it. "It's OK for you to give this data to us. We're Google/Facebook/Twitter/etc. There's no way we'd be irresponsible with that data"
It's not like we've come up with some new, super-secure way to store that data. The web is even more shady nowadays, but we're training users not to think about it that way.