There was a good chance of 23andme being able to make full-genome sequencing (which they weren't yet scaled up to) a commoditized service with the privacy protections that need to be ensured for all customers. However the business model collapsed along the way.
Now we see the most predictable outcome - someone who knows they can profit from the data is buying the remains of the company (with the data).
Only in the USA is the genomic data that valuable, and there is one sector of the economy who can benefit from it more than any other. Regeneron knows which industry that is, and while they aren't a direct part of it themselves they know they need to serve it.
Regeneron bought the data to eventually sell it to the Health Insurance Cartel. The Cartel was granted effective license to print money with the passage of the ACA, but they want more power. They still own an overwhelming majority of congress - on both sides of the aisle - but they want more power. With the genomic data they can start rewriting the rules on pre-existing conditions. As all other plans go up in price they can start offering plans that are less expensive if you consent to DNA testing, which will lead to treatment for some conditions being denied.
We can't win as long as the system is set up this way. We can't change it when the people who benefit from it control the people who set the rules.