It is also hopefully going to result in people going back to libraries. If Amazon is telling you that you can never own an ebook, why pay for it at all? Just borrow it from the local library for free.
I feel like the average person isn't going to think through the implications, or won't care, and will continue buying Kindle books. I wish more people were on the same page (heh) as us here when it comes to licensing vs. ownership, but I just don't believe that's the case.