Hmm, seems that modifying a theme that another developer has placed a distribution license on would bring your theme under their license. That really doesn’t have anything to do with WordPress.
However, most themes are modified from themes were released with WordPress and GPL licensed- says so right in their CSS file. Therefore all of those themes are derivative works, and are licensed according to the original theme.
Were you to start from scratch or a purchased template, and input the WordPress tags (or widgets) to make WordPress work with your theme, there would be no legal issue at all- it’s your theme, you’re just calling data and using system logic from WordPress and the widget makers.
I’ve found that it’s actually not difficult to get a template, break up your template structure into the same PHP file structure, and put in the WP calls that you want.
Even if you copy the WP functions used in other themes, that’s still not copying someone else’s original or creative design since those functions and parameters are provided by WP.
It’s definitely some work, but if you’re developing for commercial purposes and need to make sure that your greedy, scummy competition doesn’t demand that you release your theme to the public so that they can download and use it for free, it’s the only safe road to using WordPress (or any other open source licensed platform).