You don't truly own the domain though. You rent it. You have to continually pay to maintain control over it. It also wouldn't be hard for the registrar to claim

You don't truly own the domain though. You rent it. You have to continually pay to maintain control over it. It also wouldn't be hard for the registrar to claim you violated their ToS and revoke your access to the domain (or if they don't think they can get away with that, then they can say that they failed to process your payment when the domain renews and then snatch it up instantly themselves so you can't get it back).