Don MacAskill (SmugMug CEO) has posted a response on his blog: http://blogs.smugmug.com/don/2008/01/28/your-private-photos-...

Says Don: "To us, privacy and security are two separate, but related, issues. One analogy we use often is that security is like locking your front door and arming your alarm (no-one can get in without a key), and privacy is like closing your window blinds (no-one can look in from the outside, but you can tell people where you live and they can visit without a key)."