It's like the burning of the Library of Alexandria all over again. We don't know exactly what was in the library when it burned. We assume it was all great works of intellectualism, but it could very well have been the fanfics of their time.
I think one of the unintended consequences of privacy legislation is it will support the burning the library of Alexandria over and over again. The default corporate posture will be : Delete all the data! It's a liability and figuring out what we can keep is an enormous headache.
That attitude will create a problem - a.k.a. opportunity - for others to come in and solve. Google got rich by scraping the internet and solving the headache of how to find decent content. If there's value in some of this data headed to the dump, it gives a chance for someone to do the same. Who knows, they might even find a way to do in a privacy-respecting manner.