Apparently, this detailed complaint on Imgur mentioned that there was a change in the advertisement halfway, where the ad on the Uplay store did show off the same box, except that it has the words “PC Download” shown clearly, which is a surefire change from what seemed to be the deal earlier on.
There is physical copy of the game if you are interested, although the release is limited to European markets only. This complaint thread also saw how Ubisoft did not want to issue refunds to those who felt cheated at first, but thankfully they have made a u-turn by refunding those who want them, and everyone else ends up with a freebie.
Ubisoft mentioned in a statement, “Ubisoft regrets any confusion created by the marketing materials from our Might and Magic Heroes VII Collector’s Edition. We understand that some customers in North America were not aware the Collector’s Edition delivered digital versions of the game and soundtrack. Ubisoft apologizes for any frustration and disappointment resulting from these items being in digital format vs. physical format. We are accepting complete refunds from any dissatisfied customers and will be providing a compensation plan of one complimentary digital PC game for consumers that have already purchased the Might and Magic Heroes VII Collector’s Edition from the Uplay shop in North America. Affected consumers will be able to pick one game of their choice from a selection including Far Cry 4, Assassin’s Creed Rogue, The Crew, Toy Soldiers: War Chest Hall of Fame Edition and Zombi .”