I had cause to refer to the SC Terms fairly recently and believe you are correct, that all of your broadcast video is recorded, as well as chat logs, messages etc being retained.
That said, the wording could be considered a little uncertain, but my understanding is that Section 7 of the Terms means that everything is captured as required by law for record-keeping (but not distribution or other use), whereas Section 10 relates to models consenting to optional recordings for use by the User, Stripchat and a whole bunch of other listed parties for numerous purposes.......
Part of Section 7 'User Conduct':
"the law requires that we monitor, record and log your activity on our website."
and
"You hereby expressly authorize us to monitor, record and log any of your activities on the Website, including your chats, streams, messages, interactions with other users and User Submissions."