In all probability it's an over-zealous third-party lawyer who has drafted something which is divorced from the needs and expectations of the pleb community and (we hope) the vision of the CTO.
If I was posting content on some crappy social media site, I'd expect this kind of language.
For something marketed as "peer to peer" though...
I hope so! The CEO is a lawyer so they should know how to make something less overwhelming.
Which smells like fish to me.