Movies are a mixed bag. But once you own the disk - you, for all intents and purposes, own the movie.
I can resell the disc. I can rip and backup the disc and thus have endless copies for myself, preventing me from having to re-purchase that disc. (ripping DVD is much easier than Bluray, I'll admit).
IMHO, if i can control a piece of property (or a copy of it) for an indefinite amount of time, if i can copy/backup, watch it as i please, when i please, how i please, on what i please - no i don't "own" the movie per se, but the license granted to me by that physical purchase means the contents of that purchase are mine to do with what i feel like, short of showing it to 100 people in a theater or offering it up on a pirate network.
As a side note: I "own" my media. I have 500+ books, 400+ vinyl records, 1000+ CDs, hundreds of movies on DVD and bluray (80% ripped to a dual Plex/Jellyfin media server.)
Things don't "disappear" from Spotify for me. Amazon can't take my copy of 1984 off my Kindle. Microsoft can't shut off my access to e-books. Apple can't take back the movies I've purchased.
The reality is, i - the consumer - have control.
The future everyone is contributing to, IMHO sounds like the Great Reset conspiracy: "you'll own nothing and be happy". Happy paying rent in pepertuity to megacorps for access to things youd have, for cheaper, if you owned it outright.