I don’t see a problem. But then I have NOTHING on my phone that I can’t allow anyone to see. No passwords, no bank details, no embarrassing photos (Other than the one of my five year old granddaughter poking her tongue out at me) so — no problem. My GPS is turned off, so no “detailed” data re where I’ve been.
The only problem is with naive people who allow their phone to contain anything personal or embarrassing to them. Such foolish people will always find trouble.
(I do have an adaptor that allows my iPhone to store data on a very tiny 64GB card.)