Yes, if you are reading it straight. What alarms me is how arbitrarily it can be enforced, and you as an account holder have little recourse.
The "mainstream" (for lack of better term) social media companies have been arbitrarily enforcing their EUA's to clamp down on discourse they deem problematic...see Twitter for example. To present, Paypal has not provided any indication that it is different in perspective to its Silicon Valley siblings. There is a long list of public grievances against paypal, I don't want to bog this thread down with them (maybe another thread though!):p