If you buy content for personal use, like you buy an episode of Game of Thrones, you aren't allowed to sell it to anyone. But you can copy it between your own devices as you see fit.

If you can't sell it, it isn't yours- you don't own it. (At least, according to most definitions of ownership).

Another comment I made downthread might address this:

https://news.ycombinator.com/item?id=6495063