This is a disturbing situation, but it's hard to say what the best way of dealing with it is. The first thing most people reach for first is that extensions shouldn't auto-update. Personally, I disagree - I love silent auto-updates in general. It's a huge drag on the computing experience to have dozens of different widgets all requiring manual updates, all with different mechanisms and all on their own schedules. If…
Sites like pinterest have extensions that request these permissions, when they don't even need them. There's a way to have the extension only have access to the site you're on when you CLICK somewhere in your toolbar.
There are fine grained permissions and optional permissions to specific hosts and ports and URL patterns. It's all very well thought out.
The problem is with users.
For example, I have an extension that enables autocomplete on all web pages: https://chrome.google.com/webstore/detail/autocomplete-on/gd..., and it has access to all data on all websites. People install it every day, I don't know why. I would never install or trust anybody else with such an extension. I have to manually clone any extension I like and upload it to the chrome web store; that way I know it's not going to auto update and do nefarious things.