"What then? What bad stuff could happen?"
I leave that to your imagination. It comes down to individual preference and where you draw the line at privacy. I personally wouldn't trust my biometric data to any FAANG let alone some shit-coin startup that could potentially decide to monetize that data any which way at some point in the future.
That's farfetched. How would they monetize eye scans? 23andme and Facebook have clear commercial use cases for the data they collect. What's the commercial use case for collecting mere eye scan data? At best the data set is worth a few million dollars and that's not a conspiracy worth running, especially when they can make billions off the actual crypto.
