You may use, copy, compile, and create Derivative Works of the software, and run the software and Derivative Works on simulators or hardware solely for non-commercial research, experimentation, and educational purposes.
You may not distribute or publish the software or Derivative Works.
But you cannot distribute it. So that means we can't make our own versions and distribute them like Linux distributions. Sure you can have your own little DOS-based OS, but you can't give it to people.
On a slightly different note, there's an MS-Dos application for IOS.Of course, people instantly went around and figured out how to install Windows 3.0 on it.Apple then subsequently got pissed and stomped all MS-Dos emulators into oblivion.