I'm just curious if it's a real story with any meat or the fluff we have seen so far. I did a quick search and found 2 recent articles on gawker and daily mail but neither could be what you are talking about.
It wouldn't surprise me if there was some media hub-bub about it, as anything Disney becomes Le Scandale even when it's as innocuous as can be, but it doesn't have any meat or teeth. Unfortunately, it's a "sexy" enough of a topic to drown out any of the truths about why it really is bad - monumental waste of funds with little actual benefit to either the guests or their bottom line. It's the crushing blow of the Disney Mom's era (and, the only good thing about it is it will bring that to an end - if it hasn't really signed the death warrant already - but that's kind of like taking the patient to the brink of death in order to cure a simple communicable disease you could have wiped out in a lot less dramatic way with just some anti-biotics).
There is a fine line between vigilance and paranoia, and the Magic Band squarely stands in the paranoia section. It is as safe or safer a payment method than a Key To The World card already was, especially as you lose it there is no identifiable information written on it.
As far as tracking you within the parks, it's really nothing that wasn't really already going on. There are already sensors everywhere to count folks walking in and out of a bathroom. They already were creating buying profiles of people based on their KTTW and their individual credit card use. There is nothing going on here really that wasn't going on in some form or other before - and really, if someone cares so much about Disney taking bathroom counts, they really have bigger things to worry about (this is actually, oddly enough - a benefit, so they know how popular a certain restroom is so they can keep them better maintained, one of the few places at WDW that doesn't seem affected by budget cuts).
But it won't stop the paranoid from being paranoid. Just like folks that won't pay their bills online electronically directly to a company, because "it's not safe" and would rather write a check. A check with all your personal info written on it, including direct access to your bank account, that passes through a minimum of dozens of hands before it gets to a payment processing center (that processes payments for 100's of companies), where a minimum-wage worker opens the envelope, scans it through a scanner, and the bill is then...paid electronically. You just trust/hope they dispose of the paper check in a responsible manner. But they will never understand that - they just have it in their heads that online = bad and scary, just like here - Disney isn't tracking anything of importance to anyone but Disney, but people will continue to have fantasy theories about it and spend more time making a stink about a vacation resort knowing how many people use it's facilities than than they are the real places in life our actual civil liberties that matter are being accosted on a daily basis.