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In some ways this is a good thing - organizations should take steps to develop better brand credibility. Sometimes I just want to know if something is an official package/event/documentation/account/etc. I want to be able to go to a blog post, see an image and know that's an official Rust affiliated account without having to memorize names or read about someone's profile history.
The panic about people being afraid of being sued for just mentioning rust seems farfetched. The policy outlines some pretty liberal fair-use, and would probably only take legal action in extreme cases.
Of course, I doubt this is going to go over well. I doubt people will take the time to understand how to use the trademarks correctly and it'll lead to a situation where nobody follows it so the whole excercise in credibility will be pointless.