I think the Kindle is poised to go exactly that way, a subscription model. At that point I'll have to decide if book "ownership" is important to me. If I have an e-library pass do I need to keep the books forever? I'm thinking I can change my mindset.
Meanwhile I'm on the same page as AnemicOak, buy the books in DRM-strippable format. That satisfies the common man's ethics (and mine) while preserving my purchase beyond whatever box I use to read it today.
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