This gets really close to a straight up loan in my book, which has other implications that the gyms are not thinking of. With a physical good it is quite clear

This gets really close to a straight up loan in my book, which has other implications that the gyms are not thinking of. With a physical good it is quite clear you get the thing and possibly have some contract to pay it back over time, which is a loan. If a gym is selling you a physical one year membership, billed monthly, how is that not a loan? Are they registered lending companies?