You are not wrong, it's just that your point is pointless. We know bits can be copied at close to zero cost. But the value of the bits can't be realized without

You are not wrong, it's just that your point is pointless. We know bits can be copied at close to zero cost. But the value of the bits can't be realized without the token (if DRM pertains) or can't legally be realized (if a single-user license pertains). The bits without the token have almost zero value. You are loaning the ability to realize the value of the bits. You said "Loaning digital goods is a gibberish statement." This is simply not true.