I am not at all opposed to a non-interfering watermark, I just don't see how it could be done (and, apparently, on the first iteration, LWD isn't going to try). If I import a snippet that is copyrighted into one of my own personal topics, e.g., will the watermark be over/under below/above that snippet? Actually, I'm not even sure I'll be able to import a snippet from a copyrighted product. The whole thing is fuzzy to me. I just think (and could be wrong) that once it sinks in to everyone that they can't make a handout from material they legally purchase, they will be a lot less excited about both the marketplace and the print/export features. We'll see....
Personally, if I can't tailor my purchases to add my own material, it's hard to see how I'll buy anything. And if I can tailor my purchases but I then can't copy my realm to reuse it for a different adventuring group, I think I won't be as happy either.
I love the product, and I'm not saying this changes that. It's just that the marketplace and print/export become very low value features with the restrictions that seem certain to exist for a long time (and perhaps forever).