No, I don’t think so.
Human memory is well known to be unreliable. There’s a clear difference with “he said, she said” type recollections and what Apple is doing. People forget things and they get things wrong.
There may indeed be no expectation of privacy in public but this still really creepy and slightly threatening.
It’s always listening and allows you to go back without pressing record before hand.
Now you have a potential written record of every off colour remark, joke and personal discussion you over hear.
Maybe you think the world would be better if we all watch what we say in public further, I don’t.