Any opinion of what I see as their dodgy interpretation of DRM-free?
activation is a form of DRM, its easy enough. And as with all types of DRM it can be unobtrusive (one time activation, unlimited installs) to very intrusive (activation limits, one time code not renewable, calls home each time etc). It is slightly false to say games with some form of activation is DRM free.
However, I will do as I do with all games I buy - be careful and investigate a little. If the DRM is draconian and obtrusive I will skip, if it is non-existent or unobtrusive then it will not bother me and I might get. Simple code activation will not bother me. Bottom line is that I never really trust any retailers anyway, I always check myself first - after all their job is to get your money.
That's my view, at least.