But if you go to an ebook you bought on their site, it's marked "You own this." They separately rent ebooks.
You don't own the intellectual property, but you have bought the right to read it.
That was ironically "1984" and "Animal Farm" in 2009 (published in 1948). Both parables* about authoritarian regimes. Amazon had such a backlash they promised never to do it again.
https://www.theregister.com/2009/07/...4_from_kindle/
*Both inspired by his experience of Spanish Civil War and his disillusion with Soviet socialism and being heckled in London. Though 1984 is also about Fascism. It's about THEN, not 1984.
I buy CDs, BD, DVDs and remove DRM from ebooks I buy. DRM is evil on something bought rather than rented/loaded. I don't mess with DRM on library book borrows.