For many observers, everything comes down to reputations, and a matter of trust. For Mr Key and Kim Dotcom, who facilitated the Moment of Truth event at which the spying claims were made, reputations are on the line.
And with the lack of more information - these are what observers will base their judgments on. Who do you trust?
Questions have been raised about surveillance and about our nation's role in spying that we need answers to.
It's understandable that our national security apparatus can't be completely laid open to scrutiny, but we do need confidence that our leaders aren't lying to or misleading us - or, for that matter, spying on us. And quickly.
With just three days until the election, the dominant issue on the agenda is not the economy, housing, immigration, the treaty, health or education - it's spying.
Doesn't the whole Whale Oil/Judith Collins saga seem so long ago now?