Thanks for posting the entire clause. Let me just comment as a Red Hat/OpenShift employee with some insight into the business intent behind the legal language.
As you can see from the complete clause that includes "...for the purpose of providing the Preview Services", the license to your content that you grant to Red Hat is really to allow Red Hat to provide the Service. Also the last sentence i.e. "Except as set forth in this Section, Red Hat obtains no rights in Content under this Agreement." should make it clear that there is no other interest in the users content.
I am really confusing by following term and conditions
Rights in Content:
By displaying, publishing and making available for download and use by others any content, messages, text, files, images, photos, video, sounds, profiles, works of authorship, or any other materials ("Content") you give Red Hat a perpetual, irrevocable, worldwide, royalty-free, and non-exclusive license to reproduce, adapt, modify, translate, publish, publicly perform, publicly display and distribute any Content which you submit, post or display on or through the web site. You agree that this license includes a right for Red Hat to make such Content available to other companies, organizations or individuals with whom Red Hat has relationships for the provision of services, and to use such Content in connection with the provision of those services. You understand that Red Hat may (a) transmit or distribute your Content over various public networks and in various media; and (b) make such changes to your Content as are necessary to conform and adapt that Content to the technical requirements of connecting networks, devices, services or media. You agree that this license shall permit Red Hat to take these actions. You confirm and warrant to Red Hat that you have all the rights, power and authority necessary to grant the above license.
As you can see from the complete clause that includes "...for the purpose of providing the Preview Services", the license to your content that you grant to Red Hat is really to allow Red Hat to provide the Service. Also the last sentence i.e. "Except as set forth in this Section, Red Hat obtains no rights in Content under this Agreement." should make it clear that there is no other interest in the users content.