After the NSA spy revelations, we should certainly distrust this thing, even from MS. Hey, anyone remember the tale of a nice school and the laptops they gave to students, and later spied on them in their homes? Yep, they were in a position of trust and power too and abused it with ease.
Gamers don't want Kinect (we had enough with the original) but are being forced to pay for it and use it too. And if there is no alternative Xbone sku without Kinect, that speaks volumes of 'MS don't care about gamers privacy, buy and use Kinect or die.'
Its a Johnny Five camera you don't want, so buy your Xbone and enjoy its cool games, but feel free to point its dirty Cyclops like gaze in protest at a window or wall while gaming, or put a box over it. MS will get the message the hard way once again.