When you buy a DVD, you can rent it to others without a license. Physical ownership.
When you buy a digital file, you're not allowed to rent it out to others without a license. Digital non-ownership. But you have the bits - that's physical ownership.
People want "one place to rent movies" but that will never work. They'd be a middleman monopoly between you and the studios - and middleman monopolies always turn out bad.
In my opinion, there is a "free market" system that the invisible hand wants, which is a digital analogue of what we had with physical distribution, that reconciles the fact that a digital file really is a (virtual) physical object (on a hard drive), and nothing else will work:
You can rent your own digital files to one person at a time via streaming.
Result: There would be multiple online streaming rental stores that have huge catalogues of whatever you want.
Speculation: Everyone would just use those. Studios would raise the prices for digital files to $10k+ because they know it will be rented out. The total sales of units would amount to the high water mark of the number of people who want to watch a file at the same time.
We'd have a rich market where there are multiple players in each layer.