Should you be worried about privacy with COVIDSafe?

When the Federal Government announced an app to help public health officials improve their contact tracing for COVID-19 cases, the ‘virus threat’ vs ‘threat to privacy’ debate was inevitable.
Countless stories warned of Big Brother and the rise of state surveillance.
In terms of technology, the COVIDSafe app being promoted by the government is simple.
It uses Bluetooth to track other phones belonging to people you have crossed paths with during your day — friends, family, acquaintances and strangers.