No, we absolutely cannot stop bringing up the privacy implications of an entity knowing more about us than they deserve to, and no amount of waving it away under the (false) pretense that they "need" it to do "other" things is going to work.
I'll ignore the entire filter bubble issue and get right down to the privacy implications. When often people use search engines or other related websites (reddit search) to look up all kinds of information that in single snippets would probably be meaningless to most people, in aggregate it can paint an entire picture about that person, their interests, their computer activity and location through IP logs, and I would even venture to say we aren't too far off from a psychologist doing a persons mental profile from their search history in a court case, or even textual analysis of writing style to prove a person wrote something. (dangerous implications)
Google and MS are concerned almost entirely with our internet activity, as opposed to your claim. It is the core data metric of what makes them their shit-tons of money. More google than MS, but they are making huge moves into advertising (I have been doing SEO research for my company), and they are increasingly involved in politics of a questionable nature which include the NSA, the State Department, the CIA, and others.
So no, we will not stop talking about privacy, and if your argument is that privacy is dead, then at least skip the many times proven bad "if you have nothing to hide" implied argument you make.