Sure, Cambridge Analytica was using the data to influence an election, but Google is not shy about it's own social activism, and it's efforts to manipulate users into seeing it's view of the world.
Google's only protective of our data for selfish reasons: If you sell our data outright, the third party doesn't have need of you anymore, but if Google maintains a tight hold on the data, Google can continually sell the ability to make use of it (through Google's advertising services and the like) over, and over, and over.
The harm to me is the same either way.