Tumblr and Twitter have that same rule, yeah. Facebook's is less draconic in that it ends if you delete your account, they lose their license to use your content.

"If you post any content to the Bluesky Web Services, you hereby grant Bluesky and its licensees a worldwide, perpetual, royalty-free, non-exclusive right and license to use, reproduce, publicly display, publicly perform, modify, sublicense, and distribute the content..."

It's totally allowed, but everything posted to Bluesky is owned by Bluesky, meaning they can repost, download, sell, or do anything else they want with any picture you post without legal recourse. Not necessarily will, but can, legally.