The Vision

Here was the simple vision of the Xbox One, selling and reselling games:

Every game you bought, physical or digital, would be tied to your account. This would eliminate current-gen problems like buying a disc, and then being unable to store it or download it from the cloud.
Because every single game, physical or digital, would be tied to an account, publishers could create a hub to sell and resell the games digitally. Let's refer to these as "licenses" from here, even though it's a loaded term.
Because reselling games would now work through a hub, publishers could make money on resold games.
Here is how this makes sense for YOU: New games could then be cheaper. Why? Publishers KNOW that they will not make money on resold games, so they charge more to you, the first buyer. You are paying for others' rights to use your game in the future. If the old system had gone into place, you would likely have seen game prices drop. Or, at the very least, it could have staved off price increases.
You also would have started getting a better return on your "used" games—because a license does not have to be resold at a diminished rate.
How do you know that this would have been the case? Because that's exactly what happens on Steam. But wait!, you shout. Steam is CHEAP cheap, and it has crazy sales. We love Steam! Micro$oft is nothing like that. Well, no, it isn't now, but Steam was once $team, too. It was not always popular, and its licensing model was once heavily maligned. Given time, though, it's now the only way almost every PC gamer wants to play games.
Sharing games would have worked either by activating your Live account on someone else's Xbox One, or by including them in your 10-person share plan, which would not have been limited to "family.". Details on that had been scarse, but even the strictest limitations (one other person playing any of the shared games from your account) would have been a HUGE improvement over the none that we have now. We don't get that now.
The 24-hour check-in would have been necessary for the X1's store, which it is not for Steam, because the physical product (game discs) would still be available. This check-in, literally bytes of data exchanged, would confirm that the games installed were not gaming the system in a convoluted install-here-and-then-go-offline-and-I'll-go-home-and-check-in-and-go-offline-too-and-we'll-both-use-the-game methods.

This is the loss of some of the most future-facing features of the system