As abused as they are, internet users need to build up some healthy "buyer beware" instincts around the tradeoffs.

This shouldn't be on the users. The disparity in knowledge between the people running the services and the people using them is huge. The reason a lot of laws (in general) exist is to protect the vulnerable from harm, including harm they don't have the capacity to understand. I think that's an important facet of this debate. It's not just 'free market/free choice' etc. The harm involved in giving up your privacy isn't fully understood by many people so it's up to the law to protect them.