Would it be an overreaction to not want to touch this licence with a barge pole?
Even ignoring the “We may change this licence at any time and it applies to you” parts, there seem to be serious restriction on usage and basically have to ask them to do _anything_ beforehand.
Maybe it makes sense if you are already in a project that is using this Licenced? Is this intended as a general engine licence rather than viewing the source code?
Unreal shares its source purely for the sake of people who already license it and need to know how something works/fix something/customize something. Wouldn't be surprised if the same is true here.
Even ignoring the “We may change this licence at any time and it applies to you” parts, there seem to be serious restriction on usage and basically have to ask them to do _anything_ beforehand.
Maybe it makes sense if you are already in a project that is using this Licenced? Is this intended as a general engine licence rather than viewing the source code?