Maybe - but I'm reading it with the suspicion of someone who's just having been served a wake-up call on the exact nature of a friendship, and finding it's a lot less mutually respectful than expected.
I still see that "Second, we provide user data to governments only in accordance with the law." glaring out at me from the middle of that denial.
My suspicious mind now reads phrases like " … and frequently pushes back when requests are overly broad or don’t follow the correct process" and "Press reports that suggest that Google is providing open-ended access to our users’ data are false, period", as saying "so long as 'correct process' includes a FISA rubber stamp, and that '(claims of) open-ended access to our users' can only be true if it includes all domestic US users" - then sure, we can say that while still handing over _all_ data on non-US users -it's still _technically_ true.
This is for me, kinda like when someone you thought was a close friend gets married and doesn't invite you to the wedding - nothing's actually changed, but you now view everything differently. Right now I've got that "Oh, _that's_ how it is huh? I guess that explains a few things, I wish I'd known earlier…" feeling - complete with that sense of foolishness for ever having thought things were different.
It might be paranoid - or it might just be pragmatic. Either way, things _are_ different now. I just didn't get invited to The US's wedding, while Apple, Google, Yahoo, Amazon, Skype, TeamViewer, PayPal, eBay, Digital Ocean, Linode, Rackspace, Dropbox, Evernote, Trello, Freshbooks, and a bunch of others all did. Now I have to re-evaluate all those relationships too.
How paranoid is it to wonder if I can trust 1Password any more?