Frankly, I'd be perfectly fine with that if the costs were scaled down to reflect the limited use. As it is I feel ebooks are largely overpriced given how much less you can do with them than a dead tree book.
Ownership isn't just a matter of objects and revenue. It is control of information.
I do really look forward to a distribution system that will benefit content creators and be convenient and fair to consumers. I just don't know what it looks like. It's an excellent opportunity for someone with an idea, though.