the WISE installer is also non-free, and (what's worse) it's also a shareware
if you don't like NSIS, you can also search for the Inno Setup
and I think there IS a license, just look at the EPB readme file; it just doesn't allow any modification to the package. It also doesn't allow commercial redistribution, and others also needs to ask for permission if he/she wants to include it in a magazine CD (well, I think LN copied these terms from the original PB 2.5)