It is quite telling that you give the example of the <TermsOfUse/> component which has "one or two checkboxes on the UI" that "has some of the most complicated logic in the codebase".
Every country has different regulations, and therefore would require different wording and agreements as a Terms of Use. Anyone that has worked at a multi-national company understands this is just The Way It Is.
At Nike there is a ton of logic on a per-country basis. For example, they might own the copyright of the word "FlyKnit" in most countries, but in Italy they don't and get fined if it's ever misused. There's a TON of development work that caters to legal / regulation problems like this.