See I say "yes" because of exactly the reasons that you've listed. The government thought they had something but couldn't understand what they had without the key/password.
Let's put it in another light - what if during the serving of a completely legitimate search warrant for a completely open-and-shut murder case, the murder weapon is discovered on top of a map labeled "other murders" showing where other bodies are buried. Is that map off limits and therefore the other murders? A search warrant is necessary to investigate those other murder sites since they're all private property. I can't imagine that there's some invisible line being crossed here. The courts have held that those engaged in criminal enterprise have no right to privacy and indeed it seems like more of a common sense issue to me than a Constitutional one.
If the government has credible evidence that a crime is being committed, then I wholeheartedly support their duty to collect evidence on that crime. The 4th does not define "unreasonable", but I agree that there is a point where a line is crossed between execution of a duty and harrassment.
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"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." - B. Franklin
"There ought to be limits to freedom." - George W. Bush
"We have met the enemy and he is us." - Pogo
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