Official clarification on the ToS:
https://twitter.com/HeroForgeMinis/status/1315837441756995594

(Transcription not available rn, apologies.)

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@starseeker TLDR for people with screen readers: They don't magically get the right to a character because you create it on their site, but they have the right to the assets they've made for their site, and you give them a license to what is essentially a combination of their assets, how you've configured and painted them, and other information you enter on their site, so they can provide things like the share functionality.

@starseeker While this explanation is helpful and makes sense, it is absolutely not representative of what is written in their terms. The terms state in no uncertain terms that the *characters* are owned by them when you create them using their service, not the combination of parts or resulting figure!

If this is what they actually meant, then they badly need to change the wording in their terms!