Thanks for pointing that out!
It is legal and very common. It is done simply to limit the liability in unforeseen events. Some courts can throw this point out during the case, some may adhere to that. But most terms on the Internet would include it "just in case".
And no, we won't duplicate customers' works and such — we have build it for photographers, and we are photographers ourselves. We care about that stuff.
- Evgeny Tchebotarev, COO, 500px
Thanks for your response. I wasn't suggesting, as it might read, that it's not legal to make the claim. Just that there was no apparent legal value in such a disclaimer.
I realise it's a technicality but do you, or does anyone here, know of a case in which such a clause has been valuable in limiting the defendants liability (or otherwise valuable I guess) and as a follow-up why the claimed limit of liability is not $0 USD or say 1¢? On the later point consider that one could be the subject of a class action by a million users (the claimed liability then would differ 1¢/$100 as $10k/$100M; this suggests there must be a strong reason to claim at the specific value).