The bad part is the way the legalese kicks in on that one line:

"or for compensation OR hire"
Legalese allows that to point out the "hire" part can literally be, "Hey Chris, can you fly over and check if my shingles are bad?"
Zoom over, "nope, look great neighbor"
zoom home,
And I was just "hired" to check on my neighbors shingles. (This EXACT conversation happened tonight. Followed by over to other neighbors house, and "oh crap" and now tomorrow he's borrowing my *(@#*(#@ 40' extension ladder to replace some damaged shingles)
Do I "think" the FAA would prosecute someone for that?
Nope.
BUT let's say "Hey, can you take some pictures of the car meetup at Joe's Diner?"
Now we're REALLY falling into the portion of "furtherance of a business" that the FAA jumps on. It's shared to FB. then Joe's diner shares it. Etc etc.
(I went ahead and got my 107 primarily to avoid the gray areas, but with government and lawyers, it's ALL gray.)
Is it clearly written? Not really. But I think they want to leave a lot of wiggle room for their investigators to nail people for being stupid.