I think we agree. If the average search advertiser gave me the same benefits that some loyalty programs do, I'd feel a lot better about them. I.e. if I got points for the data I provided in my browsing habits that translated into actual dollars, I'd be game to let them have it. If I wanted to "not swipe my loyalty card for this purchase" to leave it out of my history, I'd appreciate the granular control.
The issue with all the tracking is that most consumers have no choice, no functional UI to interact with the tracking systems, and no clear idea of who they are ultimately transacting with.