Surveillance capitalism is not going to be abolished, because it makes the surveillance state so much easier. The NSA was simply ahead of the curve when it served secret warrants on Facebook, Google, Apple et al saying cooperate or be closed down. There are some serious government interests in what these guys collect, and very little power on the side of the person who is being sold.
Interesting, yes - but probably not applicable to Australia. I am fairly confident I have read something recently saying that courts do not expect the average Australian consumer to read and understand the full T&C when they are thousands of words of legalese. We have a few more rights than US citizens. (But then, so do most countries.)
That said, the idea of 'binding arbitration' is a concerning one - especially when it is being inserted into trade agreements like the TPP. Governments can be expected to bow to an arbiter who is clearly biased, and yet signed onto this idiotic agreement!