99% of the public wouldn't know what to do with the YouTube API[1] but the fact that it's readily accessible means the 1% can do interesting things for the 99%. Don't be so presumptuous about the value of this information being freely available. Neither you nor I can envision all of the possible use cases.
[1] Replace with government data, open source code, etc.
Several people have already pointed out that there are also malicious uses for this data that could negatively impact normal people. Do you want all your neighbors and potential employers to know you've filed for bankruptcy? And would you want to give them completely open access to all court filings in your name?
Isn't that a completely separate question? You can argue that things like that should be sealed, but if they're not sealed then they're a matter of public record and the government should publish them for free on the internet.
Yes. Isn't this supposed to be public information? Corporations know more about us from our credit rating and other private DBs than this information.
That's a fair point and I certainly wouldn't but that's really a different matter as AnthonyMouse pointed out. My personal opinion is that I don't want this data readily accessible but I do see value in it being so.