I think musical instruments, especially digital ones like synthesizers or effects but also guitars and other acoustic instruments, have become a lot more affordable the last decade without severely impacting quality. You don't really need the expensive stuff anymore when you can record a quality recording with a second hand iPad and a below $100 microphone.

Rental of expensive stuff will always be expensive too due to insurance, maintenance and fraud. It's not really helping to make stuff more accessible, more a convenience for the pro's that need stuff for a gig.