Whilst this is OP's point, the reality is the majority of big tech companies have been treating user data like radioactive waste for 10+ years.

Most user data is of minimal economic value, until you leak it, and then suddenly there are millions of euros of fines headed your way.

Better to not hold the data in the first place.

But then why do they want to sniff after everyone?

Storing all that information is cheap nowadays. Any state agency may be happy to get more information about The People.