It could be that this profile is for an active user. There's an e-mail address and the person created a password. That's makes it their account profile.
An active user is always supposed to be the Profile Manager on their own account profile.
I see that the person removed themselves and added you as the manager. But it's likely that we're doing an extra check when it comes to the privacy setting. We do want an active user to control their own privacy setting. But since they set you as the manager, this is a bit of grey area.
What did you want the privacy setting to be? I could just change it for you.