I find the defense of licensee V owner of physical product interesting. If you are licensed to use the product then physical restrictions such as media would not apply. So in 20 years’ time when your media no longer works the vendor would have to supply you new media to ensure your use of license is not restricted? Or is there a limit on how long before the vendor no longer needs to supply. Is that the same limit that makes some vintage software no longer copyright ?
In Australia there is a simple consumer law that states “a new product must be fit for the purpose for which it is sold”; A broom must sweep, a car must drive, etc.
What if you buy a CAD software product for Win XP that no longer works on Windows 7. Are you bound to stay on XP. Or do you have the right to expect the licensed product maintain its usefulness beyond the limitations of OS releases.
Legal precedents often come back to haunt those that use them.
Maybe new licenses will have a 3 year limit. Before you have to re-purchase. Watch the sand slip through the fingers......