It's not a bad argument, there's just better ones.
For example, while I oppose it on philosophical grounds, I don't see an NSA operator exploiting my email credential for any personal purpose.
It's perfectly possible to be crushed by a system without any of those operating the levers knowing or feeling anything personally about you. Systemic exploitation, a corrupt system if you will, is hardly better than corrupt individuals within a system, and the most horrific things in history all were rather apersonal, that's kinda what allowed them to reach an otherwise impossible scale, ferocity and longevity.
People distrusting people while trusting faceless agencies is the problem, not the solution.