This is a pretty ridiculous accusation, isn't it ? Monero is already a private crypto currency, and ZCASH an optional private crypto currency. So the tech is out, up and running since 3 years now. Hell, even DASH has some privacy elements to it (somewhat doubtful, I agree).
BTW, I consider the open ledger of bitcoin one of its biggest failures and dangers, but bitcoin is bitcoin now, and will, if it becomes sufficiently decentralized, never change fundamentally.
Privacy from whom?
The others. A financial transaction is a private affair between two entities, that is nobody else's business.
In another word privacy from the law enforcement. If crimes committed by using bitcoin which currently can be traceable to a certain degree like cash, cheque, etc - you then want to stop the law enforcement from doing their job? What do you think will happen? The police will go to the politicians and complain about Bitcoin. Politicians then agrees and ....... you can imagine what will happen next.
Forget about the swarm - a shitstorm of bricks will land on Bitcoin.