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This makes me wonder what is the "default" license that applies to all that minified, not labelled anyhow JS code fetched from random CDNs (this especially applies to ADs)... If JS is software, is it even legal to browse the web without JS blocking?

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Unlicensed JS has the same legal status as unlicensed pictures. That is, there is an temporary implied permission if the content (website) is intended to be accessed by the public, and that permission is normally extended to intermediate caches under specific circumstances.

How that work more precisely depend on where you live and what legal framework is in place.

No idea why you're downvoted, because your point is pretty much valid. There are no software licenses for many sites, yet they are full-fledged pieces of software. I guess, this is legally grey area, that nearly no one bothers about.

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