You don't own the software on the device, they do. If they choose to revoke that license, that is their choice.

Well, no. You can't just revoke a license. As far as owning the software in the device, I works would argue that you do own a copy of it. I'm sure there is some buried tos claiming you just own a license to run it, and I know this is still being litigated. But when the average person purchases someone their expectation is that they've purchased it, not licensed it.

In EU you have the right to use bundled software as long as you own the appliance. Not sure this is true for US.

I own the device and all of its storage. The exact state of that storage is my business and precisely no one else's.