If it was just the state, then I might even be able to live with it, as my trust in my government is rather high, even if I do agree with your second paragraph on principle.
The problem though is that lax/non-existent privacy laws also allow Joe in marketing and his friends to do all kinds of creepy privacy-invading things, which I worry about much more. It fosters a mentality and culture around how to get the easiest to those who are most susceptible to whatever it is your peddling, and in today's day and age of social media I think it's fair to say that it's increasingly clear that that kind of culture isn't exactly a net favor for humanity as a whole.
It's probably naive from me but I'm honestly much more worried about big tech and their nonchalant approach to privacy than I am about dangers of my government going full surveillance state. The two issues are of course not entirely separate either, they're very much intertwined.