That is true but a quick scan of it and particularly the section headings seem "down to earth" and much easier to read than comparable documents of this type.
All in all the bottom line is always "you have no rights we do" and obviously there is also always a clause that says "hey we can change this at anytime we want but you are free to leave".
That said to be fair anytime you start dealing with a large quantity of customers you need to do things to protect yourself with something like this. There is no way around that. What you might do if you have 24 customers and what you need to do with 25,000 customers is entirely different.
Even if the dollar amount is small a large amount of small customers can band together to hire an attorney to pursue a claim whereas the same simply isn't going to happen with a small customer base and the dollars involved (in general of course as always).
iTunes and Paypal are routinely cited (for good reason) as examples of services with too-long terms of service, but funnily enough, Media Temple's ToS puts them to shame:
* iTunes's ToS[1] is a little over 14,000 words (15 pages if I print it out)
* Paypal's user agreement[2] is a little over 23,000 words (31 pages if I print it out)
* Media Temple's ToS is over 25,000 words and 44 pages if I print it out
[1]: http://www.apple.com/legal/internet-services/itunes/us/terms...
[2]: https://cms.paypal.com/us/cgi-bin/?cmd=_render-content&c...
However, I've never signed either one, and if they were posted here under the heading "keeping it real" and "We tried to keep things as simple as possible", I would say the exact same thing.
There is no clickwrap-style agreement -- none -- that will ever approach the importance of many documents I have physically signed in my life, and not a single one of those documents even begins to approach this length.