“Rent everything, own nothing” is a complete non sequitor.

No it’s not. If it were up to devs or gaming-platforms or whomever, this would be the future, like it will be with nearly everything. People rent homes, cars, features IN CARS, games, movies, series…and nvidia would love if everyone would switch to geforce-now (and the others that tried). The best model to profit off a thing, is letting you rent the thing. Not letting you buy it.

Ensuring games we buy still run after 10 years is mostly a technical challenge,

…and beyond the point. Despite it being true.

I’m all for preservation

the point wasn’t about preservation (yeah it’s fucking important too), but the future of - in this very special case - games if more games will be rented than bought. Rising prices and lowered incomes really help well to drive this.