The license is meant to prevent service-wrapping by cloud providers, other than that it doesn't have any implications for standard usage. The core library / server is Apache 2 and the rest of the connectors are community license. You can use and embed both the core module and the connectors for free.
The license itself is similar to the licenses from Confluent, Elastic among many others. You can read more about it here: https://hazelcast.org/blog/announcing-the-hazelcast-communit...