Still by the terms it would not work for actual group translation.
"We do not assert any ownership over your Contributions. You retain full ownership of all of your Contributions and any intellectual property rights or other proprietary rights associated with your Contributions."
It's basically a way to justify the subscription/supporter monetization thing they got going own right now using the work of other people and just being a place where those works are, but the actual translation are still from the people that produced it. Also even if they made changes to the TOS anything publicized before the change would be exempt of that.
Yeah, it's a bit contradictory. Within the same paragraph they say:
By posting your Contributions to any part of the Social Network or making Contributions accessible to the Social Network by linking your account from the Site to any of your other social networking accounts,
you automatically grant, and you represent and warrant that you have the right to grant, to us
an unrestricted, unlimited, irrevocable, perpetual, non-exclusive, transferable, royalty-free, fully-paid, worldwide right, and license to host, use, copy, reproduce, disclose, publish, broadcast, retitle, archive, store, cache, publicly perform, publicly display, reformat, translate, transmit, excerpt (in whole or in part), and distribute such Contributions (including, without limitation, your image and voice) for any purpose, commercial, advertising, or otherwise, and to prepare derivative works of, or incorporate into other works, such Contributions, and grant and authorize sublicenses of the foregoing. The use and distribution may occur in any media formats and through any media channels. This license is required for us to operate the Social Network and permit monetization.
But then they later added:
Only content that has been made available via subscriptions is covered by the commercial elements of this license.
This license does not permit MangaDex to sell your content to any third party not subscribed to you. Since subscriptions are not available on MangaDex, MangaDex does not have a license to sell your content.
But notice this is contingent on the fact that subscriptions are not [yet] available on MD. And if MD does not have a license to sell your content, then what's the point of the first half of the paragraph talking about automatically granting them an irrevocable license to do exactly that?
The complete lack of transparency or explanation from the mods about what this actually means is the worst part.