You don't see the issue? You should slip over to Reddit and ask
r/technology and
r/privacy why this is an issue.
When the information exists on disparate systems, it's more difficult for a bad actor to utilize the information against a target. When it gets consolidated, it becomes significant easier.
The systems which contain this consolidated information will be hacked. It's not a matter of if. It will. And given the idiocy of this administration with infosec, it'll happen sooner rather than later.
And then it will be shared/sold on the dark web. And then it will not only become a national security issue but a personal security issue.
Enjoy those new lines of credit criminals are opening in your name.
There's also the issue of Trump's goons going after "enemies."