I'd rather worry about the non-boilerplate stuff, like the morality clause that gives Wizards the power to terminate any license whenever they want, simply by calling it "hateful," and you can't take them to court or even to binding arbitration to dispute their decision. (I hope that isn't boilerplate.)
No, that isn't a boilerplate provision. Morality clauses are much more common in employment and personal services contracts than licenses, which usually just have a termination provision. If you don't like what the licensee is doing, you terminate the license.
But that's the rub, isn't it? This can't just have a termination provision, since it is (theoretically) not supposed to be terminable. So you just keep going round and round, I guess.