Depends, in US (and now UK maybe too) I'd agree on yes, but in EU I wouldn't know, since even selling 2nd hand licence is allowed and perfectly legal, and also any shit written in an EULA doesn't make it legal no matter how small is written and how many times someone might have signed it.
Anyway for any EU citizen here just get in contact with your regional consumer centre for dispute resolution:
I mean if we are using that argument a disc copy is the exact same (in a legal sense*). You never own a game "legally", you only own the license. Just with the disc you have an ability to crack the contents inside it.
Let's say they decide to revoke a game I newly purchased for no reasons. Shouldn't that be illegal even tho the EULA says they can do it? If so, where do we draw the line?
You agreed to the terms of the lisence
(Ofc they still don't have full control in actual legal sense, they just have it written like that so they have their freedom to choose and they might not have to provide much of a reason)
The line is wherever the company wants it like in most things because people don't have any power (especially willpower to boycott)
I love how nintendo every couple months creates a big hassle by taking down or claiming videos and other content related to their IP and then a month later Nintendo hits a new sales record
Companies have free reign as long as people keep giving them money because no one is going to sue over a lost copy of assassin's greed