Its based on known pirated keys I believe.
So the moment someone generates an auto-key generator which then spits out a key of a existing user and it is posted online, then the user who validly purchased the game and gets his/her (and all other users of the computer it is installed on) usernames/passwords stolen is "ok"?
JSt0rm, I'm sorry, you will never win this argument on this. The US and European law strictly doesn't allow this behavior on computer systems. In fact, each username/password it collects can each be treated as a separate offense (actually each installation of the software which can collect such data can be treated an a separate offence, as the act doesn't require that anything be stolen, just that an attempt was made). It can in fact be found to be a violation of the Computer Fraud and Abuse Act (Title 18, Part I, Chapter 47, 1030) sections : (a)(2)(C), (a)(5)(B), (a)(5)(C), (a)(7)(B), (and possibly (a)(2)(A) if they (or facilitated someone else) to login to a banking/financial system using the information), resulting in upwards of 20 years imprisonment. And that would be for each and every installation of the software, not just the cases where it activated (as the CFAA considers any attempt to do any of the above the same as actually doing it).
It gets much worse once people have to spend time to repair their computer and reset logins/passwords, as the time spent doing so is calculated into damages. Once damages exceed a certain level (and it will with this many offenses), additional penalties start.
This is why people like Aaron Swartz committed suicide when charged with abuses against this statute. His was only for total 11 violations, which included $1 million in fines, I can't calculate how much in fines would result from the potential hundreds, possibly thousands of separate violations FSL committed.
And has been held previously by multiple courts, agreeing to something in a contract, does not make an illegal act legal. And on top of that EULAs have been ruled time and time again that they are not necessarily legally binding contracts depending on the terms in them, as it has been found that you can not place terms which exceed rights granted under federal, state, and local laws within a EULA.