A TikTok alternative called Loops is coming for the fediverse | Users own their content, and Loops doesn’t sell or provide videos to third-party advertisers or train AI on them. It will be open source
When you post Contributions, you grant us a license (including use of your name, trademarks, and logos): By posting any Contributions, you grant us an unrestricted, unlimited, irrevocable, perpetual, non-exclusive, transferable, royalty-free, fully-paid, worldwide right, and license to: use, copy, reproduce, distribute, sell, resell, publish, broadcast, retitle, store, publicly perform, publicly display, reformat, translate, excerpt (in whole or in part), and exploit your Contributions (including, without limitation, your image, name, and voice) for any purpose, commercial, advertising, or otherwise, to prepare derivative works of, or incorporate into other works, your Contributions, and to sublicense the licenses granted in this section. Our use and distribution may occur in any media formats and through any media channels.
In other words, you put any content up there, they can resell it to some movie studio AND make an AI copy of you with no consequences... at least according to their ToS.
EU law however... well, time will tell how fast and violently EU lawyers will inject themselves into the urethra of the service provider.
They even contradict themselves in this shit. There's what you quoted, but there is also this bit further up in a previous section:
We do not assert any ownership over your Contributions. You retain full ownership of all of your Contributions and any intellectual property rights or other proprietary rights associated with your Contributions. We are not liable for any statements or representations in your Contributions provided by you in any area on the Services. You are solely responsible for your Contributions to the Services and you expressly agree to exonerate us from any and all responsibility and to refrain from any legal action against us regarding your Contributions.
"We can use your shit however we like, but if your shit is illegal, you're the one who'll be responsible; not us."