I don't think this is all that outlandish. It's about equality, and in some senses, openness. If everyone, and I mean EVERYONE, was tracked, chipped, monitored, followed, & watched AND the information was 100% transparent and available to EVERYONE, then well... sure, it'd be a great place to live. In all your 1984 dystopian scenarios, there's an elite segment that isn't subject to the same rules as the masses---arguably, there exists an elite segment in today's society that isn't subject to the same rules as the masses---and it's also a "who watches the watchers" issue. IMHO, alot of the issues that currently exist stem from a lack of (perceived and real) fairness in multiple aspects of life. Even the playing field and make the surveillance universal & transparent, allow everyone to freely monitor everyone else, and I think it would result in a shockingly fair society.
Of course, in theory. I don't know if it could be implemented in practice, and therein lies the rub.