A good breakdown of the privacy issue:

Google Drive: The truth about data ownership | Cloud Pro
http://www.cloudpro.co.uk/cloud-essentials/3465/google-drive-truth-about-data-ownership

... there are still some causes for legitimate concern about the wording of what followed, and was less widely reported by the Twitterati: "This licence continues even if you stop using our Services". That's the license in which you are granting Google the rights to use your data for the "limited purpose of operating, promoting and improving" its services as well as to "develop new ones”.

And there lies the rub methinks, this is less about data ownership and more about data usage, privacy and security. Google does not, as it clearly states, own your data; ownership remains with the user, but it sure as heck does seem to expect an awful big slice of privilege when it comes to what it can do with that data forever more.

If I were to put any sensitive files on their servers, I'd simply encrypt them first.

I HAZ!

The desktop app is bare bones, it didn't ask me for an install location (as usual) and I had to disable the GoogleUpdate service (I have collected three entries for their update services over time, all disabled). There's no decent upload progress indicator either. /whine

I am more than happy with the core service. The two-step security is reassuring and has enabled me to get way less paranoid about my email since I started using it a few months back. So, Google Drive looks like a keeper.  :up:

Files + info you've shared over email vs. every single file on your computer.

Kind of a big step up, I'd say!  :P

But I agree with you in principle, they have a lot to be worried about.  ;D
*note to self: change passwords*