That agreement can be filled with unfair terms, and often is. I'd call that fraud.
In terms in consumer protection, at least in UK and Europe (not saying not elsewhere, just don't know much), there is an amount of regulation that tries to help consumers not get screwed in the legalese of these agreements, and some basic protections that can't override.
I'm arguing unfair terms shouldn't be upheld, or really in the agreement in the first place. This is on paper how it should work in Europe, but we (apparently) haven't quite figured that out yet.
Those EULAs often get overturned because the language is often more of a scare tactic against suing them than it is an actual legally binding position.