Unless it's free of DRM and easily copied, backed up, moved, etc, you don't own it, regardless of whatever language the vendor wraps it in.
That doesn't stop me from occasionally "buying" movies or TV from Apple (for example) -- for reasons of convenience, say -- but I don't go into it blindly, and neither should anyone else.
Even in most of these cases you don't legally own it, either. Even when you buy a DVD, you are just buying a license to use that DVD to consume the content on it. You don't own the content, and it's a violation of that license to copy a movie off of a DVD and onto your hard drive, for example, even if it doesn't have DRM. It's just that the legal content owner typically doesn't come after that type of violation.
There's the DRM case, where it's represented as a purchase but only persists as long as the seller allows it to (e.g., movies or TV digitally "purchased" from almost any vendor -- Apple, Amazon, etc).
Then there's the DVD case, where they insist it's a license, but the buyer has physical control of the media and access to tech that ensures they can continue to enjoy it in perpetuity, even if the seller tries to revoke the license.