Thank God for it. It means agencies can't just store every last piece of data that they ever capture, but have to choose, think, and forget.
Can we please stop talking about these "laws" that are based on absolutely nothing but observing an apparent trend that may not continue past tomorrow? Seriously, spoken to too many undergrads who think there's some sort of physical process or causal relationship driving Moore's law. It's bullshit. It's just people saying "growth has been this fast, and I don't know why, but I sure hope that growth continues to be this fast!"
How wrong they were... Turns out storing tons of data is useless if it takes forever to seek drive heads to read it.