Real-time clickstreams are one of Clicky's most popular features. This is definitely an attempt to win over customers that might otherwise choose the competition.

As far as the creepiness goes... unless you think request logging should be totally disabled, anyone can simply tail their web server's logfile to see real time click data. How is it more of a privacy violation, just because it's easier to read? In fact, the anonymization Mixpanel is doing does more to protect privacy than a simple tail would do.