Instead of summarizing the terms, it could be like nutrition facts warnings. Cross certain lines in the actual terms and you're required to put "See full terms for what your personal data can be used for" or something. If the terms cross lines without putting the warnings, they can't be enforced.

It would have to be not overly restrictive limits, or you'd end up with a prop-65-like scenario.

Or hell, just make a standardized "Privacy Facts" panel.