One of the long term consequence of legally dismantling our Constitution (which is the US equivalent to "company values", both in terms of how often they are invoked and by how often the same people ignore them) is that it dramatically reduces our soft power on the world stage.
Right now China is engaging in textbook "secret war" with Hong Kong as well as a variety of other human rights abuses. It used to be that we, the U.S., could speak up, and have dozens of allies rush to our side on the principle that we are to be trusted. Consider how shoddy the evidence for justifying Iraq was, and the fact that most countries still chose to send their troops with ours. Our word used to mean something.
But now? How can we hold a higher ground than China when our own police forces use the very same tactics against our own protesters? How can we accuse the other side of building concentration camps when we have our own?
Backdooring encryption is just another attack on our basic freedoms. It is crazy that at a time we should be touting our values as proof they are objectively better compared to our competitors', we are also trying to take them apart and bring us down to the same level as our competitors. It's like a vast cargo ship encountering a dinghy, and the captain tells the dinghy "you need to change your construction materials, you're shooting yourself in the foot by making poor choices" while his crewmen are hard at work drilling holes into the windows below deck.