PRISM as a concept does not scare me, it doesn't come as much of a surprise to me, really. However ... and there are a few problems where it's all heading.
a) Lets consider the value of PRISM to the NSA in the first place. Going back to the episodes of Hogan's Heroes we all know that the "enemy" would in many circumstances communicate in code to obfuscate their messages. Now, last time i checked the internet is a pretty big place. Even with some of the best code breaking software out there, there is no difference between tapping the information in and out of say Google vs tapping the information in and out of telecommunications companies. So PRISM's inherent value, to me, seems pretty minor. In fact it seems just down right lazy in the first place and pretty useless considering the amounts of data that would need sifting.
b) Precedent of accepting this as a people. There are plenty of activist groups today trying to constantly stamp out privacy concerns over the internet. They are so afraid that eventually "the other side" will win regardless. Isn't this simply a huge disregard for due process? Isn't this just a static example of no matter how hard people fight, the internet will eventually become regulated without the consent of the people? It's already monitored and sponsored by the major players if you look at the PRISM chart/timeline it's all there.
c) And now for the two headed snake and a perfect example of the Google "Do no harm" facade in play. Regulation, It currently exists in a pretty acceptable form already for the most. If I was to type any manner of profane keywords into Google the chances are that Google has already censored them to some extent. I'm almost certain that you may find the occasional nasty here or there but all in all I feel Google has a pretty good form of regulation as it is.
In summary, regulation in its ideal sense is fine, just as how society is portrayed in Star Trek as really a good way to live life as well. It's just too bad we are 200 - 300 years behind social evolution wise to live in such a common good society and we are stuck with the crap way things are today. What this PRISM thing shows is that we should, as a society, grow up a little because this childish "get away" with everything because we are above everything for the "greater good" is far more dangerous than SOPA or what any other grab at regulative control ever done. It's now a situation of take control at all costs because a small faction's "I know better" philosophies without checks and balances in place and an uncertainty of really knowing which way is up any more.
It's a demonstration of how mindless we all operate. We're not good enough for the Star Trek way of life and nor are the legislative rule benders either, even if they think they are.