The analysis isn't great. In particular, they say "this is a three-factor test, two of the factors are in favor, one is against, two is more than one, so Tile is fine". Normally you'd expect some kind of analysis of how much weight each factor contributes.

That said, they do also say this:

> we determine that Appellees received inquiry notice of the Oct. 2023 Terms. Evaluating whether inquiry notice has been established is, however, always a “fact-intensive analysis,” Godun v. JustAnswer LLC, 135 F.4th 699, 710 (9th Cir. 2025), and we do not hold that notice by mass email establishes inquiry notice in every case.

So the HN headline is misleading at best.

(They also note that, while they should consider how normal internet users behave, they can't do this because "there is very little empirical evidence regarding" the question. So they substitute a discussion of how reasonable they find Tile's actions in the abstract.)