In a way, we (or at least, the decision-makers in the valley at least)
do approve of the snooping.
Google did something very drastic when it was found out that the Chinese were looking into people's e-mails: they pulled out from China. They were lauded for this move: we all said it was courageous for a company to do this, it was morally correct, and so on we went with praise. But what are they going to do now with the knowledge from recent revelations? Pulling out would mean an end to the money coming in. Are they going to do that? Are they truly going to do something drastic, something substantial?
I'm of the opinion that nothing will basically change. Having talked with many tech CEOs I've learned that the people making the decisions just don't care about this (and those that do, care about it less than they care about making money). What's more -- a lot openly declare this is needed for a functioning society -- John Doerr was on the verge of saying this in the Arrington interview. I might sound jaded and defeated when I say this, but I think this is really it. I don't think our future will have considerably less snooping going on, this will go on, little will change.