This is not true. Any conversation had in a place where it could easily be overheard by others is legally not a private conversation. Even if it was had between a client and an attorney the privilege that would normally exist would not.
Alright, next time I'm out somewhere and I hear someone making racist jokes or swearing in front my by little brother I wont say anything. I'll tell my brother we have to respect their social expectation of privacy.
Do you expect me to say that's a bad idea? We must have some serious cultural differences because as far as I am concerned, ignoring it and minding your own business are the only reasonable actions in such a situation. How can you possibly live your life confronting every stranger you find objectionable?
If for you privacy only exists when invading it is physically impossible, then can you really say that you have a concept of "respecting one's privacy" at all? It would be more accurate to say that you "respect the acoustical properties of walls".