Who watches the watchers? Who prevents the watchers from deleting footage/recordings? Unless you're genetically engineering humans to no longer have any desires, anyone can be bribed or blackmailed for the right price.
I'm not sure why I'm being so heavily downvoted, the only difference between the dystopian future that I describe and the system we have currently, is that the government isn't collecting and processing data on such a wide scale. If they collect more data, we will have more crimes solved and more privacy forfeited. If you take that to its logical extreme, we have full surveillance, no privacy, and no crime. I'd rather live in a world where we have some crime, but privacy and no surveillance, but I think it's far more likely we'll head in the opposite direction.