i.e. not necessarily less trustworthy, but less able to enforce their will upon you

That doesn't exactly make them trustworthy. Also, that hasn't always been true... e.g.

https://en.wikipedia.org/wiki/Company_town

I don't think the "deprive you of your volition" part is true. Private companies can absolutely do this to you as an individual - either as an employee or a consumer. And, they can do it through both direct and indirect means.

Neither can the government, there are laws against that. If you argue that they can ignore the law since they are politicians, then what use are laws stating that the government can't keep your private information?

Apple disagrees with you.

https://www.mercurynews.com/2011/09/02/apple-security-person...

https://arstechnica.com/gadgets/2011/09/sfpd-investigating-i...