It lets the government spy on you without a warrant.
It makes it so you can’t even find out about it after the fact.
It makes it so companies can’t be sued when they do illegal things with your data.
It allows corporations to cyber-attack each other and individuals outside of the law.
It makes every privacy policy on the web a moot point, and violates the 4th amendment.
When we say that your information can be shared with “The Government” it’s not hyperbole. Federal Agencies from the Fish & Wildlife Service to Amtrak to the NSA could access your data.