Ok, so that's a useful clarification.
My problem is that I'm working for a subsidiary of a really big company that is directly competing with some parts of Facebook. There's a non-zero chance that some part of my company, far far away from me, will initiate an action that triggers this clause some time in the future.
In short: my company's ability to use a growing set of otherwise high-quality projects is greatly impacted because of this legal language. I also strongly suspect this isn't limited to just my organization.
One way or another, thank you for your attention.
I would love to hear from any other members of large organizations about this matter. Granted, my view is pretty limited, but this doesn't strike me as a good way forward for the overall free software community.