I think you're being a bit pessimistic, and I definitely have to disagree that this is a new trend. I'm currently reading Vanity Fair - a book written in the 1840s that's mainly about the social and domestic life of the wealthy and wannabe wealthy of England after the Napoleanic wars. I was surprised to discover how many of the accoutrements of wealth were actually rented by the British nobility. They would borrow hunting horses from a livery stable, rent a (furnished) townhouse from a middle class landlord, rent books from paid lending libraries, and even rent their clothes. As I understand, this occurred because most of the wealth either came from quarterly rent checks out of the family estate (their tenant farmers were renters too) or from interest on perpetual bonds bought from the Royal Exchequer; so regular rental payments were much easier to budget for than large capital outlays. Renting many of their possessions was necessary for all but the ultra mega wealthy in Britain before the 20th century.
For a more technological example, remember how IBM thought of mini/microcomputers in the early days - forty years ago, they envisioned users renting computer time for use on a dumb terminal, and scoffed at the idea of home users owning their own computing resources.
So I don't think that this de-emphasis of personal ownership is a new or permanent trend. Hopefully, the benefits of renting/streaming/etc. will outweigh the downsides.