This obviously has some deep implications on the privacy of Web 2.0 applications and could if extended have a detrimental impact on the SaaS market as a whole. Unless potential customers believe that they can trust service providers to keep both content and usage confidential (so long as it is legal) then the whole industry could fall at the first hurdle.
This is going to take a while to play out but it may be highly significant as a sign of mounting issues ahead.
Viacom may only be interested if you are watching illegal (or it that unlawful?) clips of Star Trek but if we are not careful we will not 'boldly go' any further!