I'm really confused by people.
Even if we lived in an alternative Universe where you could only rent a game for a 7 year periods; my gaming habits would be mostly unchanged. I don't buy new games, put them on the shelf and then salivate at the thought of playing them in 2035. 99% of my enjoyment for the vast majority games comes from my experience of it in the first handful of years of purchase.
I lost my Ocarina of Time Cartridge in the early 2000s, it didn't suddenly make me regret my purchase and wish I'd never bought the game in the first place. My first play through of that game was worth the £50 it cost and more, all play through's which followed were just the icing on the cake.
Granted not many games are as great as OOT, but the principle still stands. You're essentially saying the experience a game offers you is not worth its asking price unless you have access to it for eternity? Something physical media doesn't guarantee either.