Netflix vs. buying physical media is not clearly an ownership thing. A year's worth of Netflix's middle-tier plan buys you 9 DVDs. (Actually, I don't think they make DVDs anymore, so BluRay or something.) So if you were going to watch more than one film a month, you come out ahead there.
Anecdotally, I don't know a single person who has bought a DVD in years. And when people do buy media, they don't buy a disk but a digital license to the media on a store.
Another example? Gabe Newell famously said piracy is a convenience issue. People will pay for convenience. It's also why furniture rental companies (like Feather) are proliferating versus closing up shop. Flexibility is king, and ownership is the opposite of flexibility, it is liability.