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The way that WotC generates the right to control its playtest materials is to get those to whom they distribute them to enter into a contract. It doesn't mean they're going to enforce those contractual rights against everyone, or even anyone. It's just an example - one of any number that could be given - of people using the private law to create rights that give them a regulatory capacity.
One might object on anarchist grounds, or socialist grounds, or other sorts of grounds that you can't talk about on ENworld. But assuming a person has no general objection to contemporary systems of private law, I don't think they can have much of an objection to the type of private legal ordering that WotC is creating here.
It would of course be different if WotC was under some sort of duty to distribute the materials, or if WotC were not the appropriate people to regulate the playtest. But I haven't seen any argument that either of these things is true.
This philosophy fails when the purpose is to engage as broad an audience as possible but the terms of the contract act as a barrier to entry that part of the base balks.
I know I've given up the concept of participating in the playtest because of the "all players must sign" and the "no derivative work" provisions of the agreement.
I signed up to look at the material, but am not willing to put any energy into gathering or participating in a playtest group.
I am not going to guess why WotC decided these restrictions are appropriate or whether any violation on my part is actually frowned upon by WotC. I simply look at the restrictions and ask myself "Would following this agreement lead to a net benefit for me?" The answer seems to be a mild no so I won't bother engaging.
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And copyright gives WotC great control over its playtest materials irrespective of trying to layer on a probably unenforcable end-use agreement.
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