I think renting should be renting, and purchasing should be purchasing. I'm okay with renting and what that entails (e.g. they might remove the service in the future and I won't ever own the game). I'm also fine with buying games, and for some games that have a lot of sentimental value or replayability I do want to own them.

What I'm not okay with is the current state of affairs, where they make it seem as if you buy the game and you pay full price, but legally it's only "licensed" to you and the license can be revoked at any time. It's all the disadvantages you describe with renting, but with the price of buying. So that's what I had in mind with my comment: I'd be content instead of angry if they offered a rental service with honest terms of service and a fair price, instead of the bullshit they're pulling right now.

If there was a proper rental service I would likely rent a lot of games that I wanted to try out. Then I would go to GOG to buy DRM-free versions of the games I want to keep for a long time. Games like Civ5, RimWorld and Cyberpunk 2077. I think I wouldn't need to rent a game for three years to figure out that I want to buy it, more like a month.