Definitely not, but there's no strings attached either. As far as the EULA goes, all you agree to is some emails from the devs.
I suspect that the main reasoning for offering free double-A games is that they want to compete with Steam as a platform. If people get a certain amount of free games to play on the Epic Games Launcher, then they're more inclined to look for other offers and buy more games on the platform, eventually ending in a surplus for Epic Games, especially if they get the sponsors deals for a bargain with Rockstar etc.
While you might indeed be the product, it's still a win for both the company and the consumer.