So, what, has LiveJournal taken their remaining users’ data hostage? Is that even legal? (J/K, pretty sure it’s covered by the old ToS.)

I know you're meaning in terms of allowing the importer, but actually LJ has taken hostage of people's data in the sense that you cannot edit or delete entries, or even delete your LJ account UNLESS you accept the new TOS. At the very least it would have been decent of them to have an option to allow people to delete their accounts without accepting the agreement if use of the site was contingent on that.