The dragnet surveillance apparati searching through all your communications have warrants to do so? Certainly not. They redefined what "search" means so that it's only a search if the dragnet finds something and an analyst retrieves it. This loophole lets them conduct searches with complete disregard for the 4th amendment.

So long as the courts entertain the loophole, it's more accurate to say that searches do not require a warrant than to say that they do.