No, conflating them doesn't make any sense. You bring home the tool from the tool library, and you bring it back when you're done. It's one extra trip vs. going to the hardware store to buy the tool. The concerns about mismeasurements and extra trips don't apply.
You'd have a point if the thread were about maker spaces, I'll give you that. As it stands, though, I'd say your concerns are misdirected.