All companies do this to some degree, and while I bet we'll discover it's an issue in certain countries where the contract is invalid based on the laws of that company there remains nothing that unusual here.
The only issue with Kinect (and maybe Move I guess) is a marketing one - how would people react if national news ran a 'O'migod Sony and MS have the right to gather and review actual images of you in your home'?
People can be very funny about the idea of cameras and what is gather from them at times.
I doubt this'll amount to much, and at most it may be something MS (and Sony too I guess - again) have to put some PR/Marketing effort into controlling if there is some hint of a negative general public reaction.
Try to be reasonable... its easier than you think...
