Presuming for a moment that all the information collected by NSA is, in fact, public information, it seems to me that the primary problem isn't collection but asymmetric access and hence power differential between the state and those governed. Why should the government have exclusive access to this information while the general public doesn't? If this treasure trove of personal connection graphs, cell phone discussions, location information, is all truly public and not subject to a judge issued targeted warrant, then, why shouldn't this public information be available to any member of the public?
This new information could be a boon for Democracy and completely change how we understand and interact with Government. Why shouldn't technology impact how we organize our society? Politicians and civil servants, who have the consent of the governed, take an oath to uphold the constitution and put the interest of the people above their own. If the general public should be tracked to such precision, at the very least, why shouldn't interactions in the public affairs of our elected and appointed and contracted officials, done on our behalf, be subject to the same level of scrutiny?