For better or worse, I expect the opposite will happen. Future generations simply will not have the same expectations and fears around privacy.

The modern Western conceptions of privacy are relatively anomalous from a historical perspective. There's nothing to stop them from changing again.

What's happening now is totally different from the lack of privacy experienced in a tribe or a close knit village. This is top down panopticon surveillance where an opaque eye spies on everyone on behalf of a complex of corporations, advertisers, criminals, and governments. The lack of privacy in a village was reciprocal. This is completely asymmetrical and exploitative.

You might find this video interesting:

https://youtu.be/LLCF7vPanrY

Shows every nuke set off between 1945 to 1998.

Why did you add capitalism to surveillance?

I was using it as a technical term more than a political one. Capital is a rough synonym for assets, but "surveillance asset accumulation" is clunky. The capital being amassed here is information about people. That capital can be leveraged to control and manipulate for both economic and political reasons and can be used by both (politically) capitalist and less capitalist authoritarian regimes.