We have each other on find my iPhone, but I don't obsssively check it. However, it has its uses.
We live in a market town, my two daughters (15 and 18) go to school in another town about 10 miles away and do a regularly hobby in the larger town about 15 miles away from both our home town and school town.
As I work rurally, I don't get text messages at work, often no reception and DD2 unreliable. but gps does work. As DD1 drives DD2 to school and hobby, it is handy to check when I finish work whether I am driving 15 miles in one direction to collect DD from her hobby or 10 miles home in the other direction. As DD has a health condition, she often doesn't go. I could text, but she wouldn't respond as she's not allowed to use her phone at the hobby.
On occasion she has to get the bus to go to the hobby. Find my iPhone has come in handy more than once when she missed her stop and ended up in the dark in the middle of a town she doesn't know, we could see where she was and go to collect her. She did phone to say she was lost, but had no idea where she was. We've had to do that a few times!
Finally, my dad has dementia and has ended up in odd places a few times and not known how to get home. Thankfully, he usually has his phone on him, so we can just go and collect him. Only once did have we had to call the police, because he forgot his phone. For people with dementia, getting lost can be life threatening, so it's not paranoia. It's keeping them safe.
DC don't mind having the trackers on their phones. Until recently, they were totally dependent on us for lifts, so it's not like we don't know where they are at all times. That's the joy of living rurally.
Only time is has been an issue was before DDs 18th. She kept spying on us to find out where we going to get her car for her birthday....
However, we do have a policy of not looking unless we have need to, and they can check on us... so they're happy with that. As they have snap maps on too (but restricted to close friends) they have a different sense of privacy to us anyway.