It's a completely different license. A normal software license gives you the right to use version X of the software on Y computers/seats/users/... You have the original installer on the disc, you can download installers for patch releases online and save them for later, you have the activation key. At any point, you can uninstall the software and give or sell the installer and key to someone else.

What games and some software do these days is much worrse. You have a license to use their "software installation service" and their "let me run the game" service until they decide to turn them off. At any point, at their discretion, they can remove your ability to install a new copy or even run it all together.

Very different and quite recent.