You have to trust someone. Either the vast expanse of companies clearly mishandling your data, or the "benevolent" body which so far at least has a fairly good track record. It's not perfect. It's dangerous to give them too much power because you don't know how they will change in the future. But at the end of the day, I'd rather trust a governmental body which is at least supposed to look out for my interests, rather than a company whose main motivation is to exploit me for every penny I have.