I think the policies around using the bluesky name without permission are fine. I think the policies that let them remove user content without cause from their servers are fine. If bluesky were running as an open network, as they say they want, where you have multiple PDSs (Personal Data Servers), like relays, then deleting that data is fine.
The problem is that bluesky actually holds all of your keys and there is no path to migrate or interoperate with other PDSs.
It’s fine if they want to enforce rules on the servers they run, but the reason we’re building open protocols and networks is that users have agency and autonomy. Users can leave and switch to other servers with different rules if they want to.