https://curia.europa.eu/jcms/upload/docs/application/pdf/2012-07/cp120094en.pdf

Court of Justice of the European Union, PRESS RELEASE No 94/12, Luxembourg, 3 July 2012
An author of software cannot oppose the resale of his ‘used’ licences allowing the use of his programs downloaded from the internet
The exclusive right of distribution of a copy of a computer program covered by such a licence is exhausted on its first sale

Emphasis mine. The EU might have more regulation about what license terms can contain, but software is still licensed.

Well no that's not the alternative at all.

Yeah, I went a little to far with that one. Sequels, etc. would still be an issue of copyright. But if you own the disc and the contents, why can't you make 50,000 copies and give them away? It's yours, right?

https://curia.europa.eu/jcms/upload/docs/application/pdf/2012-07/cp120094en.pdf

Court of Justice of the European Union, PRESS RELEASE No 94/12, Luxembourg, 3 July 2012
An author of software cannot oppose the resale of his ‘used’ licences allowing the use of his programs downloaded from the internet
The exclusive right of distribution of a copy of a computer program covered by such a licence is exhausted on its first sale

Emphasis mine. The EU might have more regulation about what license terms can contain, but software is still licensed.