It's even more gross in my brief research - some publishers will sell a non-perpetual license for about 3-4x what a physical book costs libraries, and that license dies after 2 years or 26 loans, whatever comes first:

https://pressbooks.openeducationalberta.ca/ciicm/chapter/pub...

The above source fits with what ChatGPT told me (the chatgpt info is otherwise unverified):

https://chatgpt.com/share/682cffab-65b4-8002-8561-1b5842dc25...