This issue is regarding sharing content across multiple networks which requires Facebook's "ownership" in order to do so - it doesn't mean you have to pay royalties if you want to create a slideshow of your family reunion because you uploaded it to Facebook.
I quite honestly see the users point of view on this but I also understand where FaceBook is coming from. If everyone read the TOS for every website they signed up for they would likely tear up. It would be nice if the legal doc's didn't have to be involved but with all of the random lawsuits and concerns website operators have to worry about its a neccessary evil.