Thanks for having a look. I'm not a lawyer either, but it appears they just want the rights to do whatever they want with the content from Hacker News. They don't seem to explicitly forbid the use of content from the site.
I mean they provide free access to their content API [1]. So that's a good sign sure they want people to use the content. Although I'm sure they want you to reference the Hacker News source link in whatever purpose you use it for though.
That's also a pretty good Idea, have you got much.