iTunes: Agree to what?

I installed iTunes 11, and hit "Agree" when the all-too-familiar license agreement appeared (which may have been a bad idea) and it opened to greet me with this:

I have no idea what I'd be agreeing to if i hit "Agree", perhaps the irritating and false assertion that "iTunes is the simplest way to enjoy your favorite [sic] music, movies, TV shows and more on your computer".