We're kind of getting back to this in a roundabout way, with more and more programs and services being run as web applications in a browser, or otherwise being inseparably tied into cloud technology/storage (looking at you, Adobe.)
With the advent of AI tools that require significant GPU hardware to run there may actually be a legitimate basis for it, but in general it just seems an excuse for companies to have their own tightly-controlled ecosystem which can be continually monetized and exploited.