I'm pretty sure this is already covered by DIRECTIVE (EU) 2019/770. You purchase "Digital content" from the company; regardless of how they word it (like saying

I'm pretty sure this is already covered by DIRECTIVE (EU) 2019/770. You purchase "Digital content" from the company; regardless of how they word it (like saying it is a license) while you are making your purchase this law defines it. You may also purchase digital service with an ongoing subscription fee. They render your content unusable, putting them in violation of Article 5, 7 and possibly 8. The preferred remedy is that they make it usable again or failing that provide a refund. The only real way around this is for the game to be free to play, or fully subscription based from the beginning. Then it is classified by this directive as a digital service. However, if they sell digital content like skins or other items then it again is covered as a digital good even if only used within the service (unless the purchase is actually declared time limited at the moment of purchase). In any case they would need to tell you the length of time for which you are purchasing service. If you are in the EU, demand a refund under this directive or that they supply you with the content you purchased. If you don't get a refund, issue a chargeback if your credit card company is willing.