Earlier quoted context omitted.
You can build an entire new industry around it. Eveything as a service. Even hardware could become a service. You wouldn't have to actually own it, instead pay a monthly fee and you have access to produxt X. You get the latest models without any extras fees. The advantage of having a service is that the customer is hooked and it's harder to leave.
These folks are trying something like that: https://saybyebuy.com/ As an idea, I feel it's wonderful. It would massively reduce wastage.
For example, I can put £40 in my sock drawer every month and, in eight months, I could buy a PS4 and use it for the rest of my life. I could then start save that £40 toward a different purchase. Alternately, I could go with the site you listed and pay £40 a month for the rest of my life just for that same PS4, never making headway.
Now, you can point out that a PS4 is almost the definition of an unnecessary luxury and that I don't have to pay the £40 monthly rental fee, and you'd be right. I mostly went with that example because it was right on the front page and such a terrible deal. Still, in the world where I can own things, I can have the PS4 and the £40 a month, after a little over a half year of hardship, while the rental society won't let me have that. Similarly, I can buy a DVD and watch it forever, instead of shelling out for Netflix each month and hoping that they don't drop that title.