Why misunderstanding? The purchased NFTs were not allowed to be further sold under the license agreement, but that´s exactly what happened. Please let me know where I misunderstood. Thanks!
Here in the form it was downloaded means, you can't sell, give or assign it to someone the model files you have downloaded. It doesn't mean you can't sell something where the model was used.
The first image you shared depends on whether the NFT is part of the project or not. An NFT that is part of the project, would merely be a component of the project.
Well, I am not convinced if your interpretation would hold up on court.
I am pretty sure it would hold up. Otherwise, any game that would make use of an asset market would not be able to be sold. Which is not the case.
Integrating assets in games and selling single images as NFTs, is quite different.