Earlier quoted context omitted.
I don't think you are correct. The old TOS did not allow them to resell your pics. Also note they are saying your private pics will now be fair game as well. You are correct that the old TOS seems pretty standard, but these changes are not trivial.
This is exactly why TOS should show a diff or revision history. Failing that, there really ought to be an external website documenting changes.
Seems like it hasn't been updated in a while though...