> I've downloaded it so why should Facebook be allowed to decide what I can and cannot do with it any more than they can decide what I can do with my emails that I also view on my computer?

While I agree with your opinion, that data would still be Facebook/the advertisers' intellectual property and your actions could be considered infringing the terms you agreed with.

Though NYU may not have agreed to those terms, encouraging others to violate the terms and provide them the data could be considered the intellectual property damages needed to at least start a civil court case