You read this argument a lot on the internet, and I feel it misses the point.
The thing about rental software is that your work becomes inaccessible if you stop paying. All your, say, Lightroom edits are inaccessible once you stop paying for Lightroom. You can no longer view them, you can no longer change them, you can no longer learn from them (actually Lightroom is uncommonly “good” in that you can still export them and keep browsing your library).
This may not be much of an issue in a video game or Netflix or any other consumption service. But in creative software, it kills me.