I skimmed the alleged draft of the new OGL here.
http://ogl.battlezoo.com/
Really, a lot of this is more about trademark than it is about copyright. The Comments under VII (termination) look to be written by non-attorneys and make sense in the context of the recent lawsuit against TSR. If you are using WOTC's trademarks under license to market the work, they will at least try to sue you for diluting those marks and to force you to stop using the OGL if you were using the OGL. What the new OGL does not really do is effectively prohibit anyone from using rules content or uncopyrightable conceptual content (e.g. the idea of a Bixie or its stat block).
Under IX., the indemnification clause is really a nonstarter and may be the most objectionable part of the agreement. By signing, you are taking on open-ended liability for WOTC's attorney fees.
Under X. A. and B., those terms are also total nonstarters. It makes no sense, especially for larger creators, to surrender all IP rights to WOTC. It defeats the purpose of a licensing agreement. It becomes more of a work-for-hire arrangement. You have all the burdens of being an independent creator with none of the rights. News flash as to X. B. -- if you are giving the company an "nonexclusive, perpetual, irrevocable, worldwide, sub-licensable, royalty-free license to use that content for any purpose," then you do not "own the new and original content that you create." WOTC owns it now and your name is just on the papers with the government. This licensing language is in fact more restrictive and weighted to the platform than many of the similar agreements that users sign with the social media and ecommerce platforms.
Under XIII. B., this just means that if you sign this, any contracts you had with WOTC before, including the old OGL, are superseded, and this text now controls the relationship.
There is no arbitration clause (good), but you do waive the right to a jury trial (maybe good or bad depending on the facts of your case), and you consent to jurisdiction in Washington (can be good on the law for smaller businesses, can be bad because corporate home team advantage).
I think the correct read on this is that if you sign this as an individual, you are becoming an employee of WOTC without the rights of an employee, and if you are a company, you just surrendered all your shares to WOTC without being paid for it. No matter what your situation you are effectively surrendering your IP rights.
For small game developers, I don't think it makes any sense to sign this agreement, but it might make sense to negotiate a separate and more favorable licensing agreement. If you were to sign this, you might as well just get a job (in a better industry) so you get health insurance and a regular salary and regular working hours and all the legal protections that employees enjoy. 1.1 I. ii. clearly states that this is not an agreement for video game content so you cannot even accept it for video game licensing. So that part actually makes it so that this only applies to tabletop content and not to other types of content.
I think the provision in 1.1 IV. which requires you to clearly identify what is licensed content and what is not is onerous and far too risky for small creators to accept. Since the standard is so subjective and the decision is probably not being made by a lawyer, the tendency is going to be for WOTC to be arbitrary and capricious in enforcing this idea, which as far as I know has never really been tried in licensed media anywhere and at any time. It just seems like this provision is a trap that is setting up anyone who signs it for liability and unending creative headaches.
What is the solution? Don't be a fuckin' retard and don't fuckin' sign this agreement. There is nothing stopping you from making open content using D&D's rules and publishing that content so long as you do not affiliate with the OGL and suitably disclaim any association with WOTC's trademarks.
You have to think of what WOTC is giving here and what the independent creator is giving up here. WOTC is giving access to a publishing platform that has speculative and unproven reach. They are giving access to a lot of content, but a lot of that content is actually not really copyrightable anyway because it is rules or idea content, and copyright only protects the specific expressions of ideas. So their "permission" is just illusory anyway, and comes with a lot of new contractual requirements and headaches associated with it. They are giving access to association with their trademarks, so that you can say that your product is
not even officially licensed, but is rather provisionally licensed under the nu OGL. But they can take that back whenever they feel like it, and sue you if they think you are tarnishing the reputation of those marks, perhaps on ever-shifting grounds of racismsexismtransphobia, soon to be pedophobia.
Under 1.1 V. C. they talk about the controversial "Expert Tier" that mandates a fat royalty for creators earning over $750k/year. They also say that you will probably want to move into a directly negotiated licensing agreement. This to me seems reasonable, but I think everyone should be negotiating a better contract than this because the terms of of the OGL are oppressive to small creators. The royalty requirement seems to be getting a lot of attention, but the other terms are actually much worse, so this is just the fee you pay for being successful in spite of your obvious stupidity for signing the agreement in the first place.
It also shows why it's a bad contract for creators: they can use the fact that you are bound to the OGL to negotiate crappier terms on your new licensing agreement, because it gives them the power to walk away and then continue to rape you on royalties. But even worse, they can just basically take your IP now that you have validated it in the market and you have no recourse anyway.
In terms of the royalty fees and the collection mechanism, none of that is that unusual. The other requirements are what are more onerous. Sure, small creators get $0 royalty requirements, which is "generous," but they are taking on unlimited liability because of the indemnification clause, and they are taking on possibly onerous compliance costs because of the special labeling requirements within the content itself. There is no benefit for small creators to sign this, because they already have to bear all the costs of marketing and distribution from scratch. If a small creator is already successful enough with their own platform, they can negotiate a better agreement that does not involve a surrender of IP rights, ponderous labeling requirements, and a better royalty arrangement. Access to D&D's special new speculative online distribution system is a benefit of ????, especially when creators already have access to any number of other competing alternatives for distribution that do not come with such onerous requirements. The benefits would have to be much, much larger to be worth the costs.
1.1 X. A. which talks about modification describes a method of modification that may no longer be valid due to changes in the case law on this topic of electronic contracts. Just posting an updated version on a website with no thought to consideration may no longer be valid for a contract of this type. Such modifications may not be enforceable, but it doesn't stop many big companies from trying to enforce those modifications in the interim while courts catch up.
1.1 X. A. i. a. provides for a 30 day cure period, which is good. The commenter here reiterates that they hope to use this to police for heterocentrism et alia, so if you sign this, you are signing up to be fucked in the ass when you least expect it by SJWs for various SJWey reasons.
In conclusion, don't sign this. They want you to think that their content is protected, but it's generally not, you can just walk in and take it and use it for free as long as you do not associate with their trademarks and do not blatantly copy text, images, sculptures, or other form layouts in a substantially identical manner.