Can someone spy on me through GearEye?

The short range of radio signals of RFID makes it hard to read other’s data - someone would have to be very close to see what is inside someone else’s bag. And furthermore, even if the information were successfully read out, it appears as a sequence of meaningless characters, not telling much to a criminal. With GearEye only the owner of the tagged items may discover and locate his/her belongings, while unauthorized user would see just meaningless numbers.