Exactly, AFAIR it's always been sorta known that US intelligence agencies can spy on non-US citizen data held on US servers without a warrent. The PRISM lark is mostly big because it's spying on US citizens.
Verizon metadata is different perhaps, as is the idea of 641A-style mass interception of communications. But PRISM itself automated FISA compliance, it didn't actually create more NSA powers than existed before it.
Everybody will think thrice before storing their data in the US. Especially since Obama has made it more than clear that the rule of law does not apply to foreigners.