The argument that Benjamen Walker presents is one that claims that the analogy of the Panopticon does not correlate with the surveillance of our conversations and our actions. For the most part, I believe that Benjamin Walker has every right to say this simply because of the fundamental basis for both of these concepts.
The Panopticon, in essence, is a building that serves as a "surveillance machine". It was a structure that Jeremy Bentham advocated for and mainly thought of its use as a prison, where the prisoners sat in their respective cells in the open circular building, while the guards stood in the illuminated tower, having the ability to watch the prisoners at any given moment. Due to the illumination of the center tower, the prisoners could not see outside their cell, which means that they do not know if they are being watched at any point in time. And while this analogy can be generally acceptable, understanding what surveillance is in our context can help us understand the flaws of this comparison.
One noticeable hole is that in terms of surveillance, we do in fact know that we are being watched. In fact, we have come to accept the fact that we are being watched practically all the time. Yet many a time, we don't let that thought affect what we decide to see or what we decide to say in our daily conversations. The comparison to the prison would be accurate if the government was hindering our every word, our every Google search, etc. But because this is not the case, the Panopticon cannot be an effective way to describe the surveillance that happens today.