In theory that's true. But in reality it's not.
Because when it comes to anything involving the internet... or electricity in general... legislation is basically still stuck in 1950.
Politicians don't know shit about modern technology and they frankly don't seem to care, as they seem to prefer riding on the wave of 'video games cause highschool shootings, we should probably just band the internet and put a pricetag on net neutrality'.
Due to that, gaming companies, or software companies in general, are basically free to do whatever the fuck they want as long as they put a single clause into their 800 page EULA. Like, that one South Park episode with the human cent-iPad was actually not that far off in that regard.
Recently I heard something about Denmark (iirc) looking into actually changing some of these retarded laws and making it so that this whole 'you only own the rights to play the game, but the actual game is still ours' would finally die and you'd get the actual rights to your purchase. and not just access to their servers for as long as they allow it. But I'm afraid companies would just stop selling their games in Denmark then.
I'm afraid we're still a couple dozens of years away from politics getting to the point of being up2date with the reality of 2010, let alone 2019 - maybe we'll have such regulations by 2050.