Personally, I do not think my privacy is of greater importance than national security in times such as these. Having access to my private details does not bother me at all. What would bother me would be if that information was used against me to further political ends as happens in a police state. But police states managed to spy pretty effectively before the existence of smart phones.
When the FBI asked Apple to create a backdoor software into the iPhone, it asked the company to compromise the security of all iOS users. Many types of personal information, such as credit cards, photos, emails, and contacts, are stored on today's cell phones. If a backdoor into the iPhone were to get into the wrong hands, millions of users could experience a privacy breach.
If you ever go online, your privacy is already at risk. The FBI demanding a hack to unlock any phone it finds is above what they should expect. I have a hard time believing that this one phone can not be opened. Apple should continue to refuse to cooperate in developing a universal hack. They should help in getting the phone or phones in question unlocked so they can be examined.
To say this case is a battle for privacy is a fallacy rooted in the comfortable denial of reality. To keep our laptops safe from having hackers record our every move, we are supposed to tape over our webcams. GPS and embedded date stamps are part of every digital picture and video, inviting those who know how to find out where we were and when.