I hate to say this, but that sounds like an argument in favor of the plaintiffs against Internet Archive.
If a "typical library" uses DRMed books, then the only way to avoid violating DMCA (both when people read the books, and when the library trafficks in software which lets people read the books) is to get authorization from the copyright owners. So those libraries must be using licensing, rather than relying on the exemptions codified in copyright law or things like Fair Use in common law.
So you're really just calling attention to the fact that Internet Archive must be doing things very differently from typical libraries, blowing off licensing "deals" and instead relying on copyright. But if the works are DRMed, then they can't do that legally, thanks to DMCA. The whole point of DMCA is to nullify anything in copyright law which is in favor of the user rather than the copyright owner. If it didn't do that, then the pieces of shit who voted to enact DMCA would not have been paid. Bitrot and other disadvantages are the point.
The People need to repeal 1201. (Or even better, outlaw DRM, so that situations no longer exist where 1201 can be applied.) Barring that, then IA needs to get authorization from the copyright owners, before they can legally lend the books (and worse: trafficking in the software is going to require some authorization too, but that gets into some complexicated issues). They didn't do that, so they're going to lose.
I wonder if we could possibly manipulate Republicans to repeal 1201, on the basis that people who write books are four-eyed liberal academic LGBTQ-friendly elitist intellectuals -- exactly the kind of monsters that the government is supposed to be hurting. If we have to live through this ridiculous era, then we should at least try to get something from our American Khmer Rouge. DMCA IS A WOKE PLOT!!!!1