In this sentence, the speaker, "I", is saying that he fears the idea of the general public overwhelmingly enjoying the inexpensive alcohol, most likely because it will lead to mass drunkenness.
He is not afraid of the people. It would seem that he wants to protect them from the allure of the cheap booze. Moreover, he's not really afraid of their actions (drinking low-price liquor). What he seems to be afraid of is the result of people enjoying the cheap alcohol way too much, which would be social decay caused by widespread intoxication.
'Getting indulged in drinking' is a very odd construction. It does not sound idiomatic to me, which makes it hard to answer your question about what this sentence means. We do not use indulge in that way.
It does sound very odd to use "getting indulged". "I am afraid of people indulging in drinking..." sounds better. Nevertheless, what I said earlier about who/what the speaker is afraid of still stands.