1: Know exactly where every transmitter is. This means they can find you in meatspace even more easily than they can on the hard-wired internet.
2: Listen in on your transmissions without all of the legal issues associated with wiretapping. To make sure they can do so, they would probably need to pass a law prohibiting the use of many types of cryptography on unlicensed RF transmissions. Such a law would be much easier to sell to the general public "because the terrorists could be using it to coordinate attacks." If you break this law, expect a knock on your door almost instantly because of #1, above.
When you combine #1 and #2, busting "pirates" becomes trivially easy: somebody sees a "suspicious" file in your transmissions, localizes your transmitter, and a few minutes later you get a knock on your door.
There's other stuff, like injecting false traffic, etc.