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Elfwreck: The T&C were the thing that stuck out for me too. My initial reaction was it's a good thing, then I read the T&C and thought whilst it's still a good thing, there's no way if I were an author I'd accept those T&C.
Perhaps down the line it'll open up to less editorial control whilst still retaining the right to remove certain stories they think cross whatever line. However, even with that the T&C would still put me off.
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