They updated their terms April 4, 2023 https://pixabay.com/service/terms/:

3. CC0 License

Some of the Content made available for download on the Service is subject to and licensed under the Creative Commons Zero (CC0) license ("CC0 Content"). CC0 Content on the Service is any content which lists a "Published date" prior to January 9, 2019. This means that to the greatest extent permitted by applicable law, the authors of that work have dedicated the work to the public domain by waiving all of his or her rights to the CC0 Content worldwide under copyright law, including all related and neighboring rights. Subject to the CC0 License Terms, the CC0 Content can be used for all personal and commercial purposes without attributing the author/ content owner of the CC0 Content or Pixabay.

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Luckily there are strong precedents against companies retroactively enforcing license agreement changes.

cc0 gives you the freedom to distribute it under more restrictive terms

"Please be aware that while all Images and Videos on Pixabay are free to use for commercial and non-commercial purposes, depicted items in the Images or Videos, such as identifiable people, logos, brands, etc. may be subject to additional copyrights, property rights, privacy rights, trademarks etc. and may require the consent of a third party or the license of these rights - particularly for commercial applications."

That is generally the case, maybe not the "additional copyrights", but the rest definitely. Creative commons is based on copyright and gives you only freedoms regarding copyright.

If you use something commercially you also have to follow commercial property protections (patents, trademarks …)

The right of one's own picture is a personal right derived from human dignity. If you allow somebody to photograph you that permission is always in a certain context. You can put images into a different context via captions and modifications (especially porn captions, fake nudes and deep fakes). In the worst case that can be defamition, which is a crime in some countries.

You can neither do anything else that constitutes a crime.