People who need that sort of privacy and freedom need an alternative. Fortunately, the alternatives available are 100% opt-in and can be ignored and avoided if you don't like them - a stark contrast to retail banking in the USA, which we are all forced to use even if we don't want to.
I mean, it's not like your account balance is public on regular banks..
I struggle to come up with an example which does not involve shady business, and if that's what we want, it seems like a better solution to just legalise those businesses...
Also large orgs run on percentages, economics and so on. Anything that makes it more expensive to be oppressive or change the balance of things is useful. It doesn't have to be a %100 solution to be helpful.
They did this to Wikileaks, for example, long before any charges against Assange were made public.
It's, to borrow a phrase, "turnkey tyranny", ready for abuse at all times. Those it is wielded against can't then afford representation to get it fixed, as they can't send or receive any payments.
At which point if the physical transaction is picked up, the entire chain unrolls back to every initial source.
Crypto currencies don't afford privacy, do they.