i mean, it sounds like it's a subscription plan and some extra session passes added on, not like you actually bought a game at any point, correct me if i'm wrong
That means most of the average Xbox user's library is not supported, and if you're paying for Game Pass you almost definitely have a physical Xbox that can stream any game you have installed for free.
This has zero value for players. Streaming can have two business models - you pay a subscription to stream games you already own outside the platform like GeForce Now, or buy on the platform and stream for free like Stadia.
Xbox is charging per hour and making players buy games they already own through Game Pass.
You need to drill a hole into a concrete wall once - you rent the drill. You spend every day drilling countless holes - you buy the drill.
in this case, you're clearly not allocating a device for your sole usage for a given period of time; it's a gaming SAAS, which isn't really renting