Another perspective: In accordance with the licensing system that Sony and their lobbyists helped establish, Sony's licensing agreement with StudioCanal came up for renewal. Sony decided that they didn't want to pay StudioCanal's perfectly reasonable() asking price.
this is StudioCanal's perspective.
Sony isn't a naive child, they've got whole armies of lawyers analyzing the deals they sign. If Sony knowingly signs a horrible deal (such as a Netflix-like "you can show this bunch of content to users and let them download it for X years") which due to their desire to sell movies leads to them inevitably getting screwed over on their (now-mandatory) contract renewal, that's on them.
Either Sony should've insisted on a contract which included a right to sell perpetual sublicenses, or they shouldn't have "sold" those inherently-temporary movies to end users. It really is that simple.