No. The recent decades has shown that there are no laws for a sufficiently motivated entity or government. They're just words on paper, a promise. You can't expect them to keep that promise indefinitely, especially when those incentives you speak of (profit for the companies, easy repressions and surveillance for the government) point in the opposite direction. The only way to ensure this doesn't happen is to not have the tools of repression to be available at a second's notice to them. We live in a world of power, not of laws, at least as far as the most powerful are concerned.

Besides, I don't want them to have a right to track and correlate data about my location even if it's the best government ever that only ever uses this to solve the crimes that I agree are bad. No thanks.