AFAIK these EULAs are legal. In reality, RED isn't exfiltrating their customers' video (the files are enormous so people would notice) and they would go out of business if they did. Probably every product has some objectionable clause in their EULA which no one reads, so you're better off not reading it and moving on with your life. If you want to be a freedom fighter, go work for the EFF; if you want to make video,…
Maybe a bit naive but definitely practical advice. I hear you.