I haven had to sign one for a hackathon before, but meh. It probably just so whoever running it can have something to show off afterwards including in articles and etc. that could be beneficial for you if you wanna get people using whatever you end up making.
It pretty much says they could use it for any legal reason. Life is short. The chances of it causes problems are slim. I probably just sign it. .
release really say they can do whatever they want Nike Blue Sweatpants with the photos? Or just reasonable stuff to do with their business?Could they license a photo of you to be used in billboard ads about the dangers of drink, drugs, hardcoded strings or whatever?