Ironically this is almost how it works in England: https://homemove.com/content/what-is-leasehold-property-comp...
While the majority of flats are leasehold, by far the vast majority of property in England is freehold. Only a fifth is leasehold.
While technically a leasehold has a fixed term and at the end of the lease (usually starts at 99 years) the land owner technically owns the property, in reality this scares most people so usually when someone sells the property (usually while there's still at least 80 years left on the lease) you try to extend the lease again back to 90 years. So while it is possible for the lease to run out and people lose their property, it's usually something you'd be expecting when you took over the lease (and so you'd pay a correspondingly lower price for the property). While the lease is active, there's usually an annual fee from between 100 and 10000 pounds. Obviously, the higher this is, the lower the sale price of the property is likely to be.
Personally, I wouldn't touch leasehold with a bargepole, and unless you want to live in the centre of a city there's usually plenty of freehold property available so you don't need to go down the leasehold route.
It’s a weird system. The previous and current governments have been looking to modernise it.
It's easy to forget that average joe doesn't understand the consequences when we're on our own bubbles.
Edit: The media outrage when Sony removed 550 movies, indicates the customers don't still understand the terms of the sale. It wouldnt make any noises if customers knew they were renting it.
I can still play my brother's old PlayStation games on his OG PlayStation. They cannot be revoked arbitrarily, nor their music dropped or swapped out. This a feature, and we'd feel quite cheated if that happened. In fact we still go back to old games from time to time.
> Why carry water for billion companies?
All companies at a certain scale are billion dollar companies. Also, how much money a company has is unrelated to whether they violated consumer rights or not. But, tangentially, I do generally respect entities that fund creative endeavors moreso than I respect gamers who go online to bemoan how persecuted they are
Sony also keeps records, but good luck redownloading your PSP game. Or your PS3 game for that matter. But at least in that case, if you already have it downloaded, you can still play your game. Sony couldn't come down from above and turn your game into a rock.
The Crew for PS4 on the other hand. You can (probably?) still redownload that, but that doesn't actually do you any good. Ubisoft did come down from above and turn that into a rock (there is no good reason to make a single-player gamemode online-only).