This is another sad news for SEO industry. We will get lesser information about users from Organic search - majority of queries will be encrypted and displayed as (Not provided). Yes you can use Google Webmaster Tools data but you can't map out about conversion rate and bounce rate on Google Analytics.
You can bet google will continue to tell you how many queries come from paid ads on adwords. It is an advertising search engine with organic back fill. People who know how to use it properly know how to find the organic results, but google is not catering to that audience.
As a webmaster I need keyword data for the following reasons.
1) It's handy for SEO to know what people are searching for (Not a valid reason in Googles eyes.) It also means I can cover topics of interest for users. 2) If people are searching for "how to use a blue widget" I can adjust my page content to ensure it covers this question. It also helps me to work out why people are bouncing away and allows me to ensure my site offers QUALITY information that people need. Isn't Google campaigning for quality content? 3) Conversion data - without knowing what keywords bring in the sales we can't plan our PPC spend.
None of this is PERSONAL data. If I ran a real shop I'll use the CCTV to see where people go, which products they look at and work out which window displays people respond to. Shop assistants will ask what people are looking for and then provide them what they need by way of products or information. Why is it getting so hard to do this on the web?
In fairness I don't need to know that "Mr Billy Bob" searched for Blue Widgets, I do need to know how many people searched for Blue widgets though and then how many sales I made for these search terms.
Personal data and Privacy seem to be going the way of health and safety IMO!