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Threads' New Terms & Conditions Affects the Fediverse
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On an individual ("you") level, the data mining is only a tiny bit concerning. Sure, Meta will hoard any sort of data that you share with the Fediverse, and then share it with its "business partners", so everyone can profile you, and then fly on circles around you, like vultures, with targetted advertisement. However:
Even then, I like Macgirvin's take on the matter, on a collective ("the Fediverse") level. It's basically telling Meta "people here ara quite hostile against data vulturing, you won't get much out of it". It helps quite a bit against the actual threat - that Meta might try to Embrace, Extend and Extinguish the Fediverse.