Just from a data analysis perspective, this is asinine. They are creating a data asphyxiation situation where they drown in so much useless information, they can't find what they need. They need to get back to old fashioned intelligence and targeted data analysis of our enemies while preserving liberty and privacy of the citizens. If you don't, what's the point of protecting them from anything?
Exactly. They can only look back after the target is defined, not forward to identify targets. That means that it isn't meant to stop terrorists in the first place.
It's meant to convict citizens of political-crimes after the fact and is quite well-designed for that purpose...