I’m not at all an expert with open source licensing, but does the following conflict with open source licensing ?

I don’t mean any ill intent to the developers of the application, but want to inform them if there is something wrong. (Sorry if my question feels dumb, I’m just getting familiar with licensing terms)

I’ve been following this app for sometime and it recently had its alpha release. While taking a look at the Terms and Conditions section of the app, I came across the Application Use section which reads:

  1. Application Use

3.1. License

Pockaw grants you a personal, non-transferable, non-exclusive license to use the app for personal or small business financial management purposes. 3.2. Prohibited Use

You agree not to: Reverse engineer, decompile, or modify Pockaw. Use the app for illegal activities. Exploit the app in ways not intended, such as reselling it as your own product.