Just think about this for a moment. The models of contemporary life, its institutions, the language, every interaction and relationship, would change.

Would there be an imperative to conform? Would we be drones in a self-perpetuating machine? What am I saying, we already do, conform, we already are, drones.
Bigger question, would we care? If our basic needs are met, then the power structures that control us, propel us through contemporary life, would melt away.
Also consider who is saying this, the World Economic Forum. The WEF “is mostly known for its annual meeting at the end of January in Davos” that “brings together some 3,000 paying members and selected participants – among whom are investors, business leaders, political leaders, economists, celebrities and journalists”.
Basically all those vested interests who benefit from most of us owning nothing, and having no privacy.