Well, I am an IP lawyer. Here's my honest opinion:

When I read that term, my innards went ~ "Ooooh, that is tricky business."

So, I have been using Quora for years. One of my answers went viral sometime back. It was published in various blogs and e-magazines etc. Every one of them approached me and specifically asked me for my permission to be able to copy and reproduce my answer on their website.

Some of them paid me for such reproduction.

Now, what that Medium term means is that from 09 Sep 2020, they have the right to publish all your content on various e-magazines and other websites (such an INC, Huff Post, ScoopWhoop to name a few) and not pay you anything for that. Why?

Because you have already provided them with a 'licence' to do so. So, you have no effective recourse because you have already given away your right. Ergo, you cannot monetize your content other than what Medium has already provided you for publishing on it.

Mind you, Medium will get paid by the e-magazines, websites etc. for putting up your article. It may or may not have your name as author or source. That's something Medium has taken the right too, as well.

Now, another concerning aspect is 'derviative works'. So, they may choose to mix and match different people's articles and create follow-up works from the most popular articles, etc.

From the POV of Medium, they have announced their T&C. So, you have prior knowledge of this. And, you have been compensated for writing on the portal in the form of money, claps, shares, comments. etc.

So, there. Happy to take questions, if any.

Dr. Yildiz, that is a gem of an article. Thank you.