The sharing aspect has already been done. It still doesn't show the details in the mini-view where you insert the person's name as a guest which is the most important time to see such information.
You just see a big chunk of red with no details. You don't even see things like "busy". It's just a solid red color.
The key is that there are 5 permission levels: (1) None, (2) Can view when I'm busy, (3) Can view titles and locations, (4) Can view all details, and (5) Can edit.
Is that too much control? Maybe, but it's helpful when you want to share more details with teammates than you do with others, grant admins edit permissions, etc.
You just see a big chunk of red with no details. You don't even see things like "busy". It's just a solid red color.