"End User License Agreement
Well, at least I guess there is no significant legal risk in accepting it.
I sent a mail asking if they could not simply remove the license agreement, since it was even clearer than usual that it did not serve any useful purpose. To my surprise, they actually took the time to write a personal reply and explain why they needed to have it. Apparently, the original text was lost in a site update.
According to their mail, over 2000 new users had joined since the text was lost, and I was the first one to notice. I'm not sure how much legal weight these agreements actually have.