Renting a game or a movie is one thing, particularly when the rental price is comparatively 1/10th to 1/20th or less of the cost of movie or game. That's about $2, for a few days. That's enough for someone to play or watch, and see if they would pay to own it.
But where this is entirely boneheaded, is that the price offset makes me think that some idiot thought "Let's see...$3 for three days...so $5.99 a MONTH would be just an incredible deal!". Nu-uh, doesn't work like that at all. Particularly when you can BUY that game and it's sequel TOGETHER for $4 more and OWN them. It's a difference from trying a $40 game for a couple of days on $2, and trying a bundled $9 game at $5.99 a month. Even in NZ where you can rent games, they wouldn't rent out bargain bin games, they would rent out new-releases. Where it's fatal for Interplay is when the player runs into their SHITTY QA standards.
Where this is also flawed, is that you know all those nice fatal bugs Interplay STILL hasn't nailed in their crap? They are going to be there, as well as whatever new bugs are going to be created. So, at most, someone would rent a game for a month, get cheesed off by all the bugs, try another, find the same thing, then completely ditch the service. Then clean out their underwear as they get their ISP's bill for this crock.