It's written in the contract that they can take me offline, but they cannot touch my stuff. They can take it off the shelf for non-payment, but there's a period in which they have to retain it and offer it for pick-up.
This is wholly different than Amazon not only taking parler down, but also deleting the data, forcing them to download terabytes in three days, over a weekend.
And you're still right though. i don't actually own any IP space. In fact, IP space 'ownership' is handled by an NGO with little regulation. That's terrible. It ought to be governmental, because owning parts of the internet is an extremely important part of society. Too important to be left in any non-governmental organization's hands.
There are blockchain like systems that could solve this problem in a distributed fashion. There's also urbit. Or we could have proper governmental authority.
You said you rented colocation space. You (I assume) are paying a monthly fee for an Internet connection for your servers. You are absolutely depending on others who can be pressured just like AWS was with Parler. Don't kid yourself.