Lawyers got involved and made it illegal to rent PC games. Why don't they just do the same for Console games? The precedence that was set was something about if the media was copyable then it could not be rented.
An even worse thought would be that the publishers could give away the media for virtually free, and make you pay a monthly license fee even for single player offline games, similar to how professional CAE tools are sold and supported.
Before you tell me to STFU, I would not condone this. I am just wondering were the slimy lawyers have slinked off to... I used to actually rent PC games back in the 1980s (something like 3 days for around 10%-20% new pricing) back before it became illegal and the merchants becoming subject to law enforcement raids. It sure saved me a lot of $$, being able to figure out which were not worth buying. Some were such dogs, they were not even worth playing for the full 3 days. It was back then that I figured out that 90+% of games are not worth the waste of money OR TIME. Of course this was pre-internet so local word-of-mouth was the only way to get honest game reviews, unless you still believe magazine publishers receive no special treatment for good reviews.
Even now, if I know the game is not stellar, I do not waste more than my self-imposed $5 clearance price ceiling to check it out for myself. And even if it gets stellar reviews, I usually just wait for the GOTY edition will all the DLC, add-ons, expansions, and patches in one Hot Deal purchase. Also by then the modding community has even provided more content and bug fixes.