There are a lot of considerations around making sure that all parties have adequate representation and they're able to read the terms of the agreement or have it explained in their native language. So yes, I think all binding legal contracts should require either common person accessible language or require access to counsel to advise the person on what they're agreeing to. This would motivate companies to make terms that not only protect them but are also reasonably accessible to the people signing them. Right now they're only optimizing for their own protection.

>The same logic can also be applied to virtually any contract you sign that contains pages and pages of legal text

That's the problem, they took physical, real world products like Mortgage documents that were easy to understand, kept on paper and but had stipulations and they applied it to things like storing your information in some unknown company in some unknown country and relinquishing liability in the event your personal details ended up on the DarkWeb.