edit: the tone is lost via internet; my own opinion on this: yes, it is.
This statement needs the "we" defined to be meaningful.
If it is the U.S., then obviously no, the NSA is an arm of the state. If "we"` is e.g. China, probably no, because words have meanings and the arms of recognized foreign states don't conduct terrorism, they do espionage and they do war. If "we" is a freshman dorm room, then, of course, the NSA is a terrorist organization alongside the student government.
> If it is the U.S., then obviously no, the NSA is an arm of the state.
Its perhaps worth noting that “terrorism” originally exclusively denoted action by the State against its own subjects, though it was within a few years expanded to include other activities.
Some here in the states don't exactly feel like the people running the USG have the people's best interests at heart. Common folk across countries probably have more in common with each other than with the ruling elite.
State-sponsored terrorism is a thing - and has been for a LONG time. And US citizens are targets as well as non-citizens.
2. Even if they develop their own tools and research their exploits, using NSO provides a layer of plausible deniability and hiding behind someone else's fingerprint (think about the command and control servers, for example).
3. Even if they develop their own stuff, most governments have multiple arms which can use these tools (think about FBI, CIA, NSA, various military intelligence branches), and they tend not to share between them. This makes smaller government branches which don't have the resources and expertise of the others (think DEA, ATF...) buy from 3rd parties.
4. Zero days are a scarce resource, if I ran an agency I'd rather use someone else's every day and keep my own just for the special stuff.
In summary, it's exceedingly appealing for bodies like the Dutch police to use NSO tools and NSO's association with the Saudis and other provides a convenient masking to their operations.