Perhaps a solution to this problem is for the NSA to provide "opt-in" well-known collection points for everyone. If only a small amount of metadata is what they use, then the massive copy everything on the wires approach is not needed.
Private companies and even individuals could choose to submit some activities that comprise useful metadata for storage and analysis. Those they choose to not opt-in would simply not have a data-stream piped to the well-known collection points. Maybe some variant of this approach?
If we still don't trust them (and likely won't for some time), we work collectively to do what the PandoDaily piece suggested which is use valley power to push for more effective oversight. In lieu of that, perhaps we have a collective checkbook pay for a counter-surveillance org to watch the watchers.