What we've actually bought
You know, it sometimes makes me wonder if all this arguing about EULAs being unfair is a bit backwards.
Microsoft may say "you've bought a licence", but let's face it, we're buying a box with a CD in that purports to contain software that has a particular use.
If that software isn't in the box, then it's not As Described.
If there is no licence that makes the software usable (as copyright law would demand), then it's Not Fit For Purpose.
Either of which means you should be able to return it and get your money back.