What Amazon’s Clause 2 above tells you is that Amazon doesn’t love you, Amazon finds you useful. You generate income for them, and if you’re on KDP Select you provide content that no other vendor has, and that’s useful, too. […]
Now remember that Amazon’s business plan is to Conquer the World. And once they’ve succeeded— once they’re a monopoly or monopsony or whatever— you won’t be nearly as useful, because they won’t need you as much. They could chop your royalty from 70% to 35% (which they’ve already done in Japan and India), or go on to 25% or 15% and there won’t be anything you can do, because (1) they told you ahead of time this would happen, and (2) they’re really gonna need to pay their investors one of these days, really, and (3) there won’t be any other markets for your product. Plus of course they could charge you for display space and for buy buttons and all the little nickel-and-dime crap they charge the Big Five for.
–Walter Jon Williams reads your contracts,
People who extol the virtues of self-publishing on Amazon and cite draconian Big 5 contracts as a reason for it really need to, yanno. Maybe take Contracts Law 101 or something.