As no one responded, this is my view.
Everyone seems to dislike (a) the method of introduction, (b) the locus in quo of the host party and (c) the obliqueness/enforceability of the terms. What I've not seen is anyone comment on the risk or loss to them. The truth is that where you're dealing with any party outside your jurisdiction, you're going to have great difficulty enforcing said terms. And it's not as if you tried to renegotiate them, right! Also, I struggle to understand what 'loss' any of the bloggers I've followed will suffer save for the loss or misuse of data -- and that means the credit information that's been provided. Yes, there might be some intellectual property issues -- e.g. copyright -- but unless you're a famous blogger, would you seriously consider litigation against a Russian company on those grounds? Or any of the main social media or blogging platforms (Wordpress, Typepad and Blogger)?
Perhaps I'm missing something but I think it's more a case of LJ not spending enough time thinking through the introduction and producing a set of terms that look fair and reasonable.
I like the platform and so it's my intention to hang around for a while longer.