I don't think the question is over whether it is worth it to fight for online privacy, but rather if online privacy is the right end goal to begin with.
People are very uncomfortable with radical openness and transparency of their personal lives because it is a radical departure from the way life used to operate. People have always been uncomfortable with technologically driven cultural changes (easy examples would be the original Luddite movement or luddites today), and probably always will be. Online privacy gives an ironic twist on the situation since many hackers, the people who should be pushing the world forward, are disturbed by this change and want to hold it back.
Facebook, and more recently Google (with their real name push), have moved to envision this different mode of human interaction. In its extreme incarnation, your digital and 'physical' lives are inextricably merged. I don't think this is a trend that can or should be fought: it would mean fighting the integration of technology with day to day life, and so would eventually be analagous to fighting the benefits technology can bring to human life. With this integration, though, your personal life accessible to those who want it. Yes, having everything be open is very different and uncomfortable. But look at the environment created by allowing total anonymity: 4chan /b/. I feel comfortable saying that I would rather see human interaction move in a direction where you are responsible for all of your actions, rather than one where you can avoid all responsibility.