[mikro2nd]

Perhaps there's a middle ground. Give users a range of options (say 3 to 5) that aggregate the settings, ranging from "I don't really care about privacy" to "I wear a tinfoil hat to bed", along with pointers to where and how they might wish to delve deeper into more detailed settings. It can't be that hard...?

[slavik81]

If you put a big scary decision as the first thing users see, many will just close the browser because they don't know what they should pick. When they open a different browser that doesn't present them with that choice, they may conclude that it's not a problem on that other browser.