A.k.a the circular economy, or HP's modern business model. One of the difficulties has always been that if your materials are truly fungible commodities, why would anyone pay your premium instead of buying from a dozen other suppliers. HP makes it work with technical moats, but that doesn't apply here.

Everything as service, even base metals isn't exactly what I was expecting from the phrase "You'll own nothing and be happy"

lend-and-lease, you say?

I mean, a core charge for a battery kinda works like this