I do agree with that overall principle. I am not a fan of the arbitration clause.
But it's an open source project, I'm not paying them apart from donations. And theyre mainly GPL+AGPL+Apache. So I'm not worried, id be more concerned of they moved to a more permissive license. And you can run your own instance of their backend server for realtime collaboration.
All things considered I am not too concerned right now, but I will be watching for more signs of problematic behavior.