No, privacy is for protecting good things from evil people. And frankly, it's more than that. Privacy is necessary even when no evil intent exists in either the observer or the observed. It is necessary for various relationships to flourish and for human beings to flourish. It isn't good for your neighbors to watch you making love with your wife, or for you to watch them doing so. Social boundaries are important. Failing to respect them is to claim an authority you do not have.
It's similar to the principle of subsidiarity: you want the right people involved in the right things at the right times. Removing privacy smushes everything together, and I claim that this flattening effect is one of the reasons for the mental illness that's catalyzed by social media.