This is true, but the fact that I have canvas disabled must give far less entropy than actually getting a canvas fingerprint. Presumably this is true for each i

This is true, but the fact that I have canvas disabled must give far less entropy than actually getting a canvas fingerprint. Presumably this is true for each individual option. Even with correlations between the different options from an individual point of view it is likely that each disabled item is a pretty decent drop in entropy. Especially since you can probably guess my time-zone and IP are very highly correlated anyways. I think the main downside to this is that it hurts the people who do want the most protection. If 5% of people enable max settings then they have a reasonable set size. However if only 1% do and the other 4% opt out of a few options that is a dramatic privacy reduction for those users without anything they can personally do to improve it.