You do realise that EVERY country has a TSA equivalent with almost exactly the same policies and procedures. And yes some of it is security theatre but most of it isn't.
I think it's unique to the US that you need to take off your shoes, thoroughly empty all your pockets and take off your belt, get scanned by the new RapiScan things, and throw away your bottles of water (well, I've experienced that in some of the other countries, but not all).
I'm curious what other people's experience are like. Taligent's comment caught me by surprise because my international airport experience has almost invariably ended with, "wow, that was refreshingly painless. I wish the US was still like this".
US however was the only place where I could leave my 11" Air in the bag.
I've been asked several times to remove my shoes when those shoes were 'high' shoes, ie. covering a bit over the ankle. Now every time I fly I make sure to have the right shoes, and start removing stuff before arriving at the checkpoint. It does't take long to get past security (I've done under 5 minutes), but still I have to get half-naked and often checked. And it's annoying. HSR (and leaving the VIP lounge, already included in the ticket which has a very reasonable price, ten minutes before the train leaves) is so much better. And just walking past security without having to get half-naked, that too (get your bag through the X-Ray to see if you're carrying something huge and dangerous and that's it).
Millions and millions of passengers are screened every year and so of course there are going to be lots of stories about airport security making mistakes. What you need to show is actual statistical evidence which I haven't seen any to date.
And of course it isn't just theatre. In 2011 over 1000 guns were confiscated by TSA and I am sure everyone can agree that guns do not belong on a plane.
Same goes for the TSA, which a vanishingly small number of Americans realize is nothing more than security theater and an enormous government jobs program.