I'd assume that at major social media and software companies, this data from individual devices is accessible in almost real time, feeding a dashboard of information that only top executives can secretly monitor world-wide conversations and user activity for people that have their specific devices.
I'd also assume that this method of bootleg monitoring has been in play legally and illegally for some time now... It's far too tempting to company execs and CEOs to not get hooked on the god complex of having access to this level of data... If you think about it, imagine being able to access any photos and conversations from anyone on the planet any time you want...
Congress does nothing about it because many of them are afraid it will destroy the economy and upset the wealthy backers to these companies that fund all of them. One day long into the future, there may be a low-key class action settlement that won't change a damn thing, and lawyers will sweep up most of the paltry settlement money.
We pay thousands of dollars now for devices that spy on us, while they barely provide any means of opportunity and extra utility to us. Use black tape and cover your front camera, and leave devices at home sometimes... We're really defenseless against corporate greed and corruption though, watch what you say around tech devices now more than ever.