At least in EU, private book/media rental is not legal without special licensing from copyright holders, while public libraries have exception for this.
replyIn the US, there's not much demand for media rental any longer (RIP Blockbuster)--which has been largely replaced by licenced media streaming--but there are certainly private libraries of various types.
replyBecause being able to read book is good for society.
reply> a nonprofit or a charity would be a much better framework
Why?
I do agree that libraries (in the UK at least) have mostly failed to see the writing on the wall and diversify. I used to live near a library that was on the edge of a super popular park. They had a "give us improvement suggestions" thing and I spoke to them about taking advantage of the park - it would have been a prime spot to open a cafe attached to the library. They actually couldn't comprehend that idea. Like, that's not what libraries are.