The Power of Nightmares Part III

This is the third installment of a four part documentary.
I found the premise of this installment interesting.
The claim is that Al Qa'ida is not a worldwide organization but a rabble of disgruntled Islamists. The power of their ideology is what inspires terrorists attacks and not some conspiracy born out of central control from Bin Laden.

What I'd like to know is, does this make the threat of terrorism any less?

Does this mean we should become complacent, a few deaths every now and then shouldn't trouble us into giving up our rights and freedoms?

Does this mean that Islam is indeed a "peace loving religion"?

Does this mean that if we try to embrace the Muslim community in our country then all will be fine, the disgruntled rabble of Islamists will not gain a foothold?

Should we stop worrying about Al Qa'ida and the Taliban is Afghanistan and therefore the insurgents in Iraq and walk away and just get on with our lives?

If we have failed to identify and understand the enemy and the threat to our society, then we are just pawns in a political grab for more power - or so the documentary tells us.

Politicians trying to get more power over it's citizens seems like paranoia to me, and yet the four part documentary is telling us that the fear of terrorism is a political fabrication (a nightmare) created by the neo-conservatives, a paranoia if you will.

So which paranoia should we subscibe to?
(a)The paranoia created by the documentary (political grab for more power)
or
(b)The paranoia created by terrorism and radical Islam