Having an intelligence system ingest this metadata and synopsis is not considered "collection".
Essentially, if it can be automated, it isn't collection. If a human gets pulled into the loop to look at data, that's when it's collected. However, a human could be shown a synopsis or an inference about an American target and this could still not be collection, as the summary information being viewed isn't considered the person's private records.
Basically a loophole in a loophole. I'll be happy to keep databases of, and run software over, our national security records. I won't collect any of it, though. I won't even look at it. I'll just get summaries of the information contained in it from my algorithms - and if I want to look at a specific document I'll punch a rubber stamp on it first.
Search for "how FISA works" here: http://www.belfercenter.org/sites/default/files/legacy/files...
prior to snowden, almost everybody (you and your clever colleagues excluded, obviously) would think it was paranoid to believe this was the case. at least, there's no way i could make the leap from:
'EULA's state that recording activity on a company's servers by that company [i assume this is what you mean?] doesn't require a warrant but the government reading it does'
to:
'the government records incomprehensible amounts of domestic traffic but it doesn't count as warrantless surveillance because they don't read most of it'
https://www.eff.org/deeplinks/2014/06/primer-executive-order...
section 4 outlines collection policy, beginning on page 6 of the pdf:
https://www.dni.gov/files/documents/1118/CLEANEDFinal%20USSI...
edit: if the term' collection' is your major gripe, i apologize -- i rewatched the video i cited and the term is actually 'intercept', not 'collect'