ROFL. I would be offended at these rules, if I wasn't confident they would be gleefully disregarded and/or broken by any young hacker worth his/her salt.
Maybe that's the real purpose this code serves: to weed out those with insufficiently strong spirits.
"Do you let old people set the rules about things they don't understand? Do you accept the arbitrary authority of the legal system and corporate property rights? Great! You're a perfect fit for our inane non-profit which tries to promote technical creativity in the youth while counteracting the nasty anti-establishment sentiment that tends to accompany it.
The rest of you kids: you'll get no help from the adults. Go raise hell, lord knows we need it."