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Do you actually own anything digital?
(www.theregister.com)
This is a most excellent place for technology news and articles.
Can it be taken from you, at any time, for any reason or no reason at all?
If yes, then you don't own it.
I mean, that technically applies to everything. The government can seize your land, the police are in the news every few days for straight up taking money out of people's homes and vehicles and shooting dogs, robbery is still a living profession, etc
There's really not a lot that sentence doesn't apply to, if anything at all.
When it comes to the US government at least, there are 4th Amendment protections in place, so no, your property can't be seized "for any reason or no reason at all".
Theft is a thing, but it's random and you have the right to defend yourself in your own home. You also aren't at risk for losing EVERYTHING. Not in the way you are if your digital library license gets revoked.
If a cop can take your property with no consequences and you will be arrested or killed if you defend yourself and your property, then what the law says doesn't matter as the defacto state of reality isn't concerned with such petty things as laws.