While that is certainly a concern, i don't think a government regulated is any worse or better then metadata that can be bought and sold by ISP. The only way to prevent any one organization from using all the metadata is a government regulation prohibiting it, or have it so fragmented that its difficult to collect more then a small portion of it. Committing any type of cyber-crime would be inadvisable on such a network.
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Oh, yes, it's not going to be any worse for us. I was just promoting it as a selling point for "fiscal conservatives".
Point made, point taken.