I think everyone can agree we've seen from academic publishing what a shitshow {public need} + {extractive private IP ownership} can be.
Requesting libraries to enter into agreements with publishers in order to loan copies of their books isn't in the public interest.
Because invariably these publishers will realize they can bump rates year over year. And then private equity will realize they can buy these rights holders for a secure income stream. And then the year over year price growth will accelerate.
And contrast this with physical first sale doctrine. (1) The library bought or was donated a copy of the book. (2) As long as they could store it, no publisher could tell them a damn thing about how they could and couldn't loan it.