it was blissfully simple: you purchased a LP or a CD, you owned it, you could play the music on it at will, sell it, give it, whatever. In reality, when we paid $14.95 for a CD that cost less than $1 to manufacture, the value was always in the music, not in the physical support.
It is still "blissfully simple." Nothing has changed.
With streaming, we pay for music untethered from any physical support. That's fine, but we no longer have full control over the music we paid for. Conceivably, a copyright owner could win a lawsuit and have music you own ordered removed from your library by a court.
A copyright owner can no more have a court order that you return "his" CDs or LPs than he can have the court order that you return audio files that you have purchased.
It is still "blissfully simple." Nothing has changed. Of course, if you never purchase files and only stream them, then you get what you pay for and can lose access at any time.