Let's suppose, again you are an application service provider. You develop a way to have the whole Microsoft Suite of Office type proggys offered through a webserver and work in the browser, Office and Visual Studio, we shall say.
Using one machine, you are able to service 500 users. All of them using every program at one time or another.
How do you think Microsoft would feel about this? (*1)
You aren't technically distributing or pirating the programs, so why would they even care?
Do you think they would just wave it off as an "bahhh who cares"?
I'd really be interested in your perspective on this.
*1 == I haven't read an MS eula in a long while, so I don't know what they cover anymore.