Yeah, there's no way to spin that game stuff and make it sound good.
"No, guys, listen, you can still loan your games to a friend. As long as you're logged in on his/her Xbox1 and don't mind not being able to play anything on your own system, since you can only be logged into one machine at the time, just like today with XBLA games, except now everything is an XBLA game."
"Really, relax, fellas. You'll still be able to trade in your games. Through a Microsoft-approved system where we set the trade value and may choose to exclude certain games at any time. But hey, at least you won't have to hassle with GameStop, eBay, Craigslist, or dealing directly with your friends anymore, right?"
Everyone loves to bitch about GameStop, and I'm not really a fan, but I bet we'll all be looking back on them with fondness in a few years.