> Now, I could replay those games after some time. That improves my overall cost-benefit ratio from 60 bucks -> 2 hours of gameplay to 60 bucks -> 4 hours of gameplay.

Or someone has modded it, and you can play it again with different content, or altered content, or altered gameplay, or some combination thereof. And if it's owned and local, there's nothing they can do to really stop someone from doing that definitively. The first mods for games weren't because developers decided they wanted people to be able to mod the games, they were from fans diving in, reverse engineering and making changes. Developers embracing modding came later.

With a cloud based game or digitally verified synced content, some level of consumer control is definitely lost, and that's a shame.