That is exactly it does.
And the “Terms of conduct, guidelines and procedures is ANOTHER thing”.

ToC, Guidelines, and Procedures tell you how to behave and how ■■■■■■ enforces the rules.

What I showed, and if you are not a person who saw your first document online “yesterday”, you might know the contents of a legal document, specially when it deals with business, it often decades old all the time. They have some updates here and there, but the content remains pretty much align with laws and regulations that are also decades old.
Some of the things you see written in virtually any of there terms you see in games that were launched “yesterday” are verbatim what law states they should be since the 1950s or 1960s.

Anyway, what I showed is indeed to be old, but the statement regarding the fact that Official Servers are not meant to:

  • Ensure your property stays safe
  • Enforce your property right
  • Carebear your game so your base, your character or your belongings are secured

And still mentions that Conan Exiles official servers have no MMO style support.

If you are not a functional illiterate, you would know that it is a pattern, suggesting that they are not making it to be a safe heaven for your things.
It will never be.
This requires resources, people and time directed towards keeping things under control. To do that, they need make the system, and watch it works, and have people to fix when it does not. That is why they dont, and they never will.