It grants you the right to read & study it though.

The right to read and study you have by default. It's getting your hands on a book that has legal caveats attached.

Yes, but getting your hands on the material isn't a very interesting legal question IMO.

Whether you can train your LLM on it is a very interesting question.

I've personally never been in favor of punishing people for downloading (or seeding) things.

One which buying books for your LLM doesn't answer either. In analogy to humans, you might as well give your LLM a library card.

They might even have gotten away with legitimate use argument if it was not seeded.