Well, here's my thoughts -
First, why the hell would you trust that the "transparency" would be real? Admit what Snowden revealed, and keep the next violation of human rights under wraps. If we can't verify transparency, it would have to be based on trust - and I see a distinct lack of both the ability to verify the NSA's claims and reasons to trust the NSA.
Second, why would you trust President Obama to follow through on a promise? I believe he promised protections for whistleblowers on the campaign trail, after all.
And third, what good does knowing that the NSA monitors everything do, when all that really does is give them carte blanche to use the data however they want, knowing it won't expose the program? (Program being already exposed)