IMHO: the bottom line is that many IP owners wish to retain full control of their properties.
Re-releases & re-masters may often compete with earlier releases. However, if the IP owner is able to remove access to the earlier releases, THAT competition dissolves.
Given that studios & publishers are seemingly lacking in "new" creative effort or ideas, simply putting a "fresh coat of paint" on prior releases is becoming more popular.
Besides, if the "license" to use/play a title expired or was revoked, ANY actual use of it would be illegal and open to litigation - surely in the favor of the IP owner.
I'll just put this right here:
QuoteMicrosoft's AI chief, Mustafa Suleyman, has stated that content published on the open web since the 1990s is considered fair use
Uhm... that goes both ways, M$! 😂
Given that we saw for example 74% of Ghost of Yotei buyers choosing digital in the UK, we are now in a generation of peak stupidity and most people don't care about the technicalities of ownership as long as you hook them up to IV, slurping Mountain Dew and munching Doritos.
I bet you in 10yrs time these same people will cry what happened.
It's also on gog, after purchase you get an offline installer to keep forever just like a physical copy.