I was checking my Google Activity Report and discovered i can see a complete profile of my movement for the last 3 weeks.

This is nothing i want to be visible to anyone! You can disable it but why was it enabled in the first place?

Personally, I enjoy having a repository of my location history that I can browse easily. Where was I on such and such a date? Easily looked up.

As for the privacy issues, they are real, but my carrier could easily replicate this data if required to anyway. So if it's going to be generated with or without my consent, I may as well have access to my own copy.

For instance, Google Now analyzes it to help provide interesting cards. Lots of people love that.