@woodruffw, disagreed with your reading of the terms.
In my understanding, very high-level summary:
Terms up until now: PSF can terminate in case of wrongdoing (“policy violation”) or for other clearly stated “good reason”. E.g., if you upload a virus package, violate someone’s trademark, typosquat, etc.
Terms from March: PSF can terminate for any reason, including what most people might consider “bad reasons”. E.g., for the purpose of illustration and without implying any intent here: selling a coveted project name on pypi to the highest bidder. Or, resolving name conflicts always in favour of a US entity. Or shutting down projects from a country the US is in a trade war with.
Again, repeating, not implying intent, just illustrating examples of what the new terms would enable vs where the protections of the old terms for users and maintainers would extend, and no longer do.
So, the new terms are not an idiomatic way to say the same. The old terms said “PSF can act if you violate policies” (and here are various policies like “do not upload virus”). The new terms say “PSF can act as it wants, no matter whether you have violated policies or not, and it is the sole decision maker, without recourse or appeal”.
The strict condition under which PSF is empowered to act is removed, in the sense of removing the condition in the legalese, and excluding legal liability from the get-go.