Web standards have grown dramatically more complex since then. (To me, this raises a question in and of itself, I think it would be good to try and develop standards intentionally easy to maintain to avoid embrace-extend style dominance from individual companies).
You now have HTML5, CSS3, JavaScript, WebGL, WebAssembly, WebRTC. You have newer and newer layers of security, and you have multiple platforms (Apple, Windows, desktop, phone) to develop for. It’s a mountain that has grown out of what was once just a unique type of slightly marked up text file.
Oof. I want to cheer this project on as much as anybody, but there’s no two ways around it, those terms have every appearance of being extreme and expansive. Just to copy it here for others to see:
https://loops.video/legal/terms-of-service