I think people who are a little more into computers see that
1. Creating a "key" that works for uncle sam also means it can work for thieves, beijing, whoever. Its a lot of power.
2. Machines and programs already exist to store and analyze massive loads of data, and they are getting better all the time
3. data leads to knowledge and knowledge is power, because they are more likely to live it
Whether handing this power over to the governments of the world is worth saving or doing "X" is the debate. While people are very good at seeing whats right in front of them its a much more challenging skill to accurately envision how our actions today lead to the situations of tomorrow.
"Give a man a match, and he'll be warm for a minute, but set him on fire, and he'll be warm for the rest of his life."