Kindle ending downloads?

So apparently within a few days, Amazon will eliminate the ability to download your purchased kindle books from your account onto your computer. Meaning, you don’t “own” them, they can be removed at will.

While this is over-reaching in my opinion (they took my money and don’t give it back), should I be alarmed? I mean, why would they remove a book? I don’t read anything egregious so. . .? I started downloading some, and thought, “Really, am I going to spend hours doing this?” And then I would have to convert them into a regular epub from the Kindle format (not hard, but tedious).

What does anybody else think about this?