Perhaps its just semantics, but can you truly "own" a copyrighted work, unless you are the copyright holder? In the US, first sale doctrine and decades of case

Perhaps its just semantics, but can you truly "own" a copyrighted work, unless you are the copyright holder? In the US, first sale doctrine and decades of case law says I can re-sell the spinny plastic disc I get when I buy a movie on DVD, but I'm greatly restricted in what else I can do with it. I cant make copies, I cant show the content publicly, I cant sublicence access to the disc remotely - these are all things the actual owner of the content can do. I'm very sympathetic to people losing access to digital content, but it seems its fairly clear that wording aside, all copyrighted content is licensed, not sold. The only difference here is that you can use physical media until it wears out, where as digital content can only be used as long as it is made available to you (which in some cases, may be much less than an equivalent physical copy).