Yes, that has been Fight On!'s publishing model since the beginnings. Do note this is a zine that basically predates the commercialisation of old-school gaming, and is modelled on stuff like the old Alarums & Excursions. I don't know how much it made, but the profit expectations were basically close to "nil", and the proceeds, such as they were, were spent on commissioning covers from Erol Otus.
The IP clause is so that people ill feel comfortable republishing their Fight On! articles elsewhere, while letting Fight On! releasing compilations of multiple issues down the line.