Essentially "we care about privacy, until something comes up that scares the general public and makes us care less about privacy", a.k.a. Ohlocracy [1].

It also doesn't address the problem of abuse. Remember when the NSA agents spied on their spouses, girlfriends, and lovers [2]?

[1]: https://en.wikipedia.org/wiki/Ochlocracy

[2]: http://www.nydailynews.com/news/politics/nsa-analysts-spied-...