First, nowhere in the article was there any talk of mandating this clothing for anybody, let alone everybody. And while, yes, it could represent a revenue stream for AT&T, that doesn't keep this from being a very welcome development for a very large number of people. If your choices are between being confined to a nursing home so that you can be visually monitored 24/7, or being able to live a reasonably normal life monitored remotely through your clothing, most people I know would pick the latter.
Eventually most people have to pick between the lesser of two evils in some context of their lives. This, to me, seems like it's setting the "lesser" bar considerably lower.
But I know that, when you're young and invincible, it's difficult to appreciate that, despite your best efforts, your body will eventually start wearing out. In fact, most people in the West spend a lot more time in decline than in the ascent, and you've got about a one in three chance of spending at least 3 months of your life disabled in some way before the age of 65, and the likelihood of a permanent long-term disability to vision, hearing dexterity or mobility, let alone disorders like diabetes and cancer, increase every year.
While the hope is that we can each put off needing this sort of technology as long as possible, I'd much rather it was well developed both technologically and sociologically/legally by the time I need it. We need to work on legal protections for privacy. Technology is going to keep removing the physical ones.
If you feel like being cynical, that's your right. It's a free country. But I find it's best not to put too many statements out there for Karma to work with.