The difference between that and sending your "modifications" back is that you have an explicit, intentional choice to make: accept the EULA or don't use the site.
I think that the walls of text do need to be reigned in in acceptance of the fact that it's absurd to hire a lawyer to review all of those contracts, but I also somewhat sympathize with courts' opinions of "So you think you could just use the product and the contract doesn't apply to you because you didn't want to... Read?"
Most of those EULAs are saying what should be common sense. The law should just give me those rights, but because copyright hasn't caught up to the digital age and software we need something that allows me to copy into computer memory.
Anything that isn't 'common sense' needs to be a contract that a lawyer reviews for me
I think that the walls of text do need to be reigned in in acceptance of the fact that it's absurd to hire a lawyer to review all of those contracts, but I also somewhat sympathize with courts' opinions of "So you think you could just use the product and the contract doesn't apply to you because you didn't want to... Read?"