In an airport's baggage claim area, I accidentally hit a middle-aged guy with my luggage. There was like around 30 kilograms worth of stuff in there, going directly to his torso, bringing him to writhe in pain. In my defense, the guy was standing too close, and this was an intercontinental flight, so of course everyone's bringing big-ass luggages. Regardless, I immediately apologized profusely.
Protecting your identity against who? If it's against the service provider, there'd be no point as they'd already know who you are with you logging in.
Your connections to the banks, email providers, and other services would already have security in place and are probably already encrypted thru the HTTPS.
If there's somebody snooping while you're making one of this HTTPS connection, they might be able to tell the URL domain you're accessing, but nothing more.
On the other hand, if the VPN provider you're using turned out to be malicious, they're be able to get every network traffic that passes thru them.
That's not a reincarnation, that's just a migration.