I couldn't disagree more strongly. If we have an issue I think it would be prudent to examine the entire issue especially the degree and kind of it's coming.
Your willing to make vast assumptions on something that affects the very fabric of our society and I find that quite disturbing.
The people who are using it for wrong will use it no matter what, the law has no meaning to them. Whether you outright ban it, or ban parts of it, individuals will ignore the bans and try to exploit it for wrong. This is also inevitable.
So, the important question to ask is what is the most effective way to establish and enforce a reasonable law that allows society to experience the benefits while acting against the detriments and those that would exploit them (for purposes of blackmail, industrial espionage, etc).
What else would you propose be done? Because almost all of what I've heard so far has been complaining, which history shows is the least effective way of actually getting anything done.