That's the excuse that is being trotted out by our lords and masters. In that context, these moves make sense in their eyes. The debate is whether (a) whether the threat is real (b) it's enough to justify the intrusions by the state and (c) whether the state actually achieves anything by these intrusions. All these points are disputable, but it's unfair to dismiss them without consideration.
Fact: If a service provider is capable of giving my information to law enforcement when faced with a legally sound and fully justified search warrant, then they are capable of reading my information without any such warrant. Including information that they have no right or justification to access and that is highly sensitive and could be highly damaging to me if published.