So what does it mean? "You can make money off it even through hosting but if you modify the source doing this you need to publish your changes"? I think that's about it, right?
Not just that, you are thinking of something like the BSL. The AGPL is an EULA where if your whole app that's unrelated to the hosted software (e.g. your WordPress site is using Obelisk) it would have to be open source too.