I'm pretty sure this only has to do with snaps and not stories, as the terms on their stories is much broader

"You grant Snapchat a world-wide, perpetual, royalty-free, sublicensable, and transferable license to host, store, use, display, reproduce, modify, adapt, edit, publish, create derivative works from, publicly perform, broadcast, distribute, syndicate, promote, exhibit, and publicly display that content in any form and in any and all media or distribution methods,”