With the level of surveillance and erosion of privacy, that is essentially what is happening. We all know that we are being watched and surveilled. There is no longer an "argument". Anything you say in public or private could potentially be used against you in the future.
I wish that we would all insist that it starts at the highest level down, rather than the other way round. Maybe also if you look at information on me, I get notified and get to look at the information on you. Unfortunately surveillance is a one way street.
No there's the potential of that happening. That isn't what actually happens. If everyone's phone was continuously recording and storing everything 24/7 we'd need much bigger batteries for one thing.
Actually, many people fight this kind of "progress". Just look at what is happening to Flock right now. True "technological progress" would be using technology to empower humans, not to exploit and subjugate them.
Smaller, more capable, cheaper? Yes, it absolutely is progress.
The only question is whether everyone gets a slice, or it ends up locked down so only governments and corporations have access to it. Obivously I come down on the sousveillence side of the fence - it's the lesser of two evils. If it exists I want everyone to have it, and you can't stop it existing.