Only if you can prove that there is not a person with access to the account and intention to access it can the account be deleted.
You're wrong here, both legally and technically (and in my opinion, also ethically).
In the bluntest possible way, even if you were correct (and you're not...): They could have just deleted the billing information and not the account.
Ubisoft designed products that require an online account to use - Ubisoft is on the hook for providing that online access for account holders because they paid for that product. Alternatively - in any region with good consumer protection laws, they're about to issue a lot of full refunds.
If this is too much hassle, they could instead sell a license to execute the software, regardless of how it is obtained (but offering a way to download for now, putting the purchaser in charge of backing up those files). Similar to what GOG are doing.
But no, that's not enough control for them either. They want to have their cake and eat it too.
You could just as easily delete all of the PII in the account by sending someone an email saying "your licenses are now attached to these codes, please use them to reactivate your licenses with a new account if you want to access them" but they don't. They just delete them. There are many ways to square this circle.