Issue really is first sale doctrine. Meaning that after first sale there is very much leeway for the product owner. Even to scan and destroy it.

Copyright ways. Form change probably should be compensated. Even if it means that you wouldn't be able to format change your own media. Or that such activities wouldn't be allowed without compensation over certain threshold.

This is in tension with Sony vs. Betamax, which held that time shifting is fair use, but that also requires format-shifting (broadcast to recorded media).