If the HN backlash is anything to go by, a lot of people see it the same way as you (me included).
Every company will act in it's best interest not ours, particularly in the case of Google who are blatantly building out a vision of what they want the web to be for 1 singular purpose: to more closely monitor you for the purpose of selling your online activity to the highest bidder.
This much influence being concentrated is bad for the web.
Viva la revolución!