The way I see it, ownership rights are irrelevant: the used game market is basically a RENTAL system pared down to the bare bones: Most rental services involve regular payments, but this one only involves two. The gamer pays the rent to infinity up front, and then trades in for residual value (video games usually depreciate quickly.) Ownership rights are not an issue, at least not in my mind, and probably not in the minds of most gamers.
Ideally, I'd like to see a mixed system. You can buy a game, of course, but with renting added on as a pay-service: if you subscribe to a console's pay-service (PS+ or XBox Live) you can rent one title at a time in one week increments. If you like it, you can buy it to get ownership rights and play it while renting another title. If you're a power-gamer, you can finish it by the end of the week, or renew the rental at the end. If it's not your thing, rent a different title next week.
Not complicated, not oppressive. Just providing a service people want.
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