Your can't waive your right to seek remedy in the event of a breach of contract, but US courts have ruled that clauses requiring mandatory arbitration from a private arbitrator instead of going through the public court system are legal.

Theoretically, it's just as fair to be heard by a neutral third party, but the biggest difference is that if you agree to arbitration, there's no equivalent of a class-action complaint meaning each impacted individual would have to file an arbitration claim separately.