I'm very grateful the WEI proposals were put down. It'd have an enormous privacy impact on normal users, and not give that much protection against bad actors using device farms & similar tools.
The real thing is the gating of every kind of information exchange and treatment in the hands of a few entities, that get the power to say who will participate on those activities and doing exactly what.
That is, the complete elimination of the freedom of association and initiative from our society. At least around any one of those that involve computers.
The lost of privacy is a rounding error.