If I bought a game at GameStop we aren't required to continuously reach back out to them every once in a while to check that they're okay with me playing the game I bought from them. And if GameStop goes out of business they aren't going to come knocking on my door to make sure I never play the game again or take it back from me.
Once a game or any other product is purchased from a digital store, it should not require the stores continued existence or permission.
Yes there are some drawbacks in that maybe they could argue then that they could stop allowing redownloading a game you've already purchased but so be it, they'd just be offering a worse experience and users would move away.
We also need to stop allowing unclear language. When we lease a car at a dealership they never use the term "buy" or "own". That's strictly reserved for ownership. We should require the same for other licensed/leased products.