Those in positions of social power thrive on secrecy. It's how they are able to maintain that power. So, yes, maybe transparency will alter the lives of those with immense social power (and perhaps in ways those people would not want), but it will likely allow everyone else to benefit from reduced control by elites.

The real lesson from history seems to be that information is power and secret information even more. Elites (what you describe as those with social power) have used their secrets to repress everyone else for millennia (and likely longer than that).