This seems pretty scummy. I just can't think through justifying morally why an ebook license shouldn't be permanent with an unlimited number of checkouts. Making sure authors[^edit] can be paid is very important, but the institution of the library is older and more important than the institution of the book-shaped book-- none of the defects of a physical book should intrinsically shape the nature of a library!

[^edit]: And editors and such, though I can't speak to the importance of The Publisher.