Isn't most infrastructure rented? I fail to see how SaaS is special in this respect. You rent internet access from your ISP, you rent roads when you pay tolls, you rent sewage access, etc.
Saying that software is infrastructure only supports the renting model.
From the perspective of thinking that this model of infrastructure is working well, I suppose. ISPs are a great example of where it kind of isn't, and the degree to which the municipality imposes regulations on infrastructure-providing companies basically predicts the degree to which the service functions well
The most natural analogy for software is infrastructure. Lots of money to be made in building, maintaining, and supporting it, but as with any technology, the proposition of renting the right to use it is one that is obviously a bad deal for everyone but the rentier, and all the moreso for the fact that they can constantly make changes to the deal, including how the software functions, what one must pay for it, and what other benefits your use of it may extract from you on the behalf of its owner
I make money building software and think this feudal status quo is a terrible one that we should welcome the destruction of. Its benefits are ill-distributed and temporary, its drawbacks are dystopian, pervasive, and long-lasting, not only creating these awful deals for a wide swath of the economy, but also creating massive incentives for the rentiers in this equation to hoard competence in using these new technologies, stymying untold amounts of innovation and progress by making criminals out of tinkerers and discouraging even non-technical users from adapting them to their own needs