The bigger thing here is no class arbitration or other representative proceeding. A lot of law firms do arbitration now against companies either with class arbitration or just thousands of individual arbitrations filed en masse. I wonder if this protects them from even the latter approach? It would be shitty if it forced you to do all the legwork on the arbitration yourself.
In any case I get this is happening now and why it's such a huge ultimatum is they know they're about to get hit with a ton of Video Privacy Protection Act suits. Turns out in the late 80s the US made video service providers that share video watching/rental/purchase history open to actual damages of $2500. So in the last year or two a ton of law firms have started filing class actions and arbitrations against all the streaming services and platforms.