It totally violates the Constitution. The government as stated in the Constitution is to protect my Liberty, Magic Bands violate my personal freedoms while on vacation at WDW. Therefore the whole thing is Unconstitutional.
Yes you are correct about Big Corp (Crony Capitalists) running things. The thing is we need to take away the power that the government has and give it back to the people so that Crony Capitalism Corporations can no longer buy government influence to help create Monopoly's for themselves.
Look at Disney for example. Some Entrepreneurs wanted to bring some big Las Vegas style casinos to Orlando. Due to the political influence that Disney has in Florida and in Washington, they got government bureaucrats to put a kabosh on the whole project. Now if government did not have that power to do that (true free market) the project would be built thus creating more jobs in Orlando and creating more competition to Disney. Now if your working at Disney and only making $7 bucks an hour, you look down the road and see this new casino is offering $9 bucks an hour you tell Disney your going to jump ship. Now how does Disney prevent their employees from jumping ship? They have to match that $9 dollars an hour or pay even more. That is how free markets work, when there is an abundance of jobs, the employers compete for employees services thus increasing wages.
In the Crony Capitalism society we live in, the big Corps shut down any sort of competition due to government intervention and it kills our economy.