Can I call alarmist bullshit?
I think the inevitable consequence of fears like yours is that you'll be able to pay different institutions, so that you can store part of your data here, and part of your data there. So that you can surf behind company A's proxy most of the time but use company B's when you feel like/need to.
Yes, there are going to be less entities on the whole. But if the internet keeps growing, that might be a temporary setback--the infrastructure is going to hopefully become more spread out, more resilient to attack, and more designed to protect individual rights, and individual property. Think about it this way: as we move more and more pieces of our lives online, the value of our digital "stuff" grows higher and higher, and systems to protect that stuff, and our hopefully our constitutional rights (including the right to privacy), will appear.
At the very worst, you can always wait for some kind of massive privacy or fiscal (or even just data loss) tragedy would at least cause governments to act quickly to more clearly define the rights of an individual online :p