TL;DR* Here's what the license entails:
1. Anyone can copy, modify and distribute this software.
2. You have to include the license and copyright notice with each and every distribution.
3. You can use this software privately.
4. You can use this software for commercial purposes.
5. If you dare build your business solely from this code, you risk open-sourcing the whole code base.
6. If you modify it, you have to indicate changes made to the code.
7. Any modifications of this code base MUST be distributed with the same license, GPLv3.
8. This software is provided without warranty.
9. The software author or license can not be held liable for any damages inflicted by the software.
More information on about the LICENSE can be found here
And of course the definitions of what is modification of said code vs some larger equivalence set kicks it all off. So, very helpful but can sometimes by it's own wording and actual legal merit across the planet have varying sense that. That entails both legally, philosophically, ortographically and what not.