No but it doesn't. Everyone on the internet has something to hide, and that's their passwords. The problem with the "use normal information for blackmail" case

No but it doesn't. Everyone on the internet has something to hide, and that's their passwords. The problem with the "use normal information for blackmail" case is that its very difficult for the public to understand. They often have never been bullied, and don't have the imagination where they can see a point where normal conversations can be used against them. The bank account argument is far easier to explain and grasp